Guideline Value for Nelpadi Street

Nelpadi Street guideline value

The current guideline value of Nelpadi Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Venkatapuram village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Nelpadi Street has changed

The guideline value for Nelpadi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,000 per sq.ft in the 2023 revision, and further rose to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. However, from 2012 to 2017, the value experienced a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Venkatapuram

In Venkatapuram, there are 68 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 1,200 per sq.ft, with a median value of Rs 1,200 per sq.ft. The guideline value of Nelpadi Street is below this median.

• N.S.K. Nagar 1st Cross Street: Rs 1,100 per sq.ft (2024)
• N.S.K. Nagar 1st Street: Rs 1,100 per sq.ft (2024)
• N.S.K. Nagar 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• N.S.K. Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• N.S.K. Nagar 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• N.S.K. Nagar 3rd Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Nelpadi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nelpadi Street?

The Sub Registrar Office that covers Nelpadi Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Venkatapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Nelpadi Street?

The current guideline value of Nelpadi Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, moving from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increasing to Rs 1,000 per sq.ft in 2023, and finally reaching Rs 1,100 per sq.ft in 2024.

What is the land classification for Nelpadi Street?

Nelpadi Street is classified as Residential Special Type - II under the Kunrathur SRO.

What are the stamp duty and registration fees for properties in Nelpadi Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000 in fees.

Where can I find the Sub Registrar Office for Nelpadi Street?

The Kunrathur Sub Registrar Office, which covers Nelpadi Street, is located at No.59, Road Street, Kundrathur, Chennai -600 069.