Guideline Value for Nellipettai High Road

Nellipettai High Road guideline value

The current guideline value of Nellipettai High Road, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 2,160 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Nellipettai High Road has changed

Over the years, the guideline value of Nellipettai High Road has seen significant changes. Starting from the 2003 revision, the value was Rs 181 per sq.ft. It increased to Rs 600 per sq.ft in 2007, marking a substantial rise of +231%. The value further increased to Rs 2,000 per sq.ft in 2012, reflecting an increase of +233%. However, it then dropped to Rs 1,340 per sq.ft in 2017, a decrease of -33%. The value rose again to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,160 per sq.ft in 2024, which is an increase of +8% from the previous year.

In summary, the guideline value has increased from Rs 181 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, representing an overall increase of +1,093%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing the current value of Nellipettai High Road below this median.

• Nellipettai Road: Rs 2,160 per sq.ft (2024)
• Nellipettai Cross Street: Rs 2,160 per sq.ft (2024)
• Nellipettai 2nd Cross Street: Rs 2,160 per sq.ft (2024)
• Nemilicheri High Road Cross Street: Rs 3,520 per sq.ft (2024)
• Neelakandan Street: Rs 2,160 per sq.ft (2024)
• New Colony 10th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Nellipettai High Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total fees together to Rs 1,94,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nellipettai High Road?

The Nellipettai High Road is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Zaminpallavaram

The guideline value is an important factor when registering property transactions in Zaminpallavaram. It determines the minimum value at which property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer and seller must declare the sale price, but the registration will be based on the higher of either the sale price or the guideline value. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Nellipettai High Road?

The current guideline value of Nellipettai High Road is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 181 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, showing a significant overall increase of +1,093%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200, and the registration fee would be Rs 43,200, totaling Rs 1,94,400.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the significance of the guideline value in property transactions?

The guideline value serves as the minimum value for property registration, ensuring that the correct stamp duty and registration fees are collected based on either the sale price or the guideline value, whichever is higher.