Guideline Value for Nellukallari street

Nellukallari street guideline value

The current guideline value of Nellukallari street, located in Vepery village under the Periamet SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Nellukallari street has changed

The guideline value for Nellukallari street has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a 300% increase. However, this figure dropped to Rs 2,680 per sq.ft in 2017, representing a decrease of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, which is a 10% rise from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 4,800 per sq.ft, indicating that the guideline value for Nellukallari street is below this median.

• Nellichalladai Street: Rs 4,800 per sq.ft (2024)
• NehruTimber Market: Rs 13,200 per sq.ft (2024)
• Nehru Nagar: Rs 4,400 per sq.ft (2024)
• Naval Hospital Road: Rs 6,000 per sq.ft (2024)
• Naval Hospital 9th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 8th lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nellukallari street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, leading to a total of Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nellukallari street?

The Sub Registrar Office that covers Nellukallari street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for additional details.

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

The guideline value is a crucial factor when registering property transactions in Vepery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is bought or sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nellukallari street?

The current guideline value of Nellukallari street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, which is a total increase of 340% over the years.

What is the land classification for Nellukallari street?

Nellukallari street is classified under Residential Class III Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Nellukallari street?

The Sub Registrar Office for Nellukallari street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Nellukallari street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.