Guideline Value for Nellipettai Road

Nellipettai Road guideline value

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

How the guideline value of Nellipettai Road has changed

Over the years, the guideline value of Nellipettai Road has seen significant changes. In the 2003 revision, the value was Rs 181 per sq.ft, which increased to Rs 600 per sq.ft in 2007. Following this, the value rose dramatically to Rs 2,000 per sq.ft in 2012, before dropping to Rs 1,340 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 2,160 per sq.ft.

The changes between these revisions are notable. From 2003 to 2007, the value increased by 231%. The jump from 2007 to 2012 was 233%, but it then fell by 33% from 2012 to 2017. The value rose by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 shows an increase of 8%. Overall, from 2003 to 2024, the guideline value has increased by 1,093%.

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 for these streets is Rs 3,300 per sq.ft, placing Nellipettai Road's 2024 value below this median.

• Nellipettai High 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 Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, while the registration fee at 2% would be Rs 43,200. Together, these fees would total Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nellipettai Road?

The Sub Registrar Office that covers Nellipettai Road is 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 a crucial factor during property registration in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value, as it impacts the stamp duty and registration fees payable at the time of sale.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nellipettai Road?

The current guideline value of Nellipettai 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 changed significantly from Rs 181 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, marking an overall increase of 1,093% over this period.

What is the land classification for Nellipettai Road?

Nellipettai Road is classified as Residential Class III Type - I, which is important for determining its usage and value.

Where can I find the registration office for Nellipettai Road?

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

How is stamp duty calculated for properties in Nellipettai Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 21,60,000, the stamp duty at 7% would be Rs 1,51,200.