Guideline Value for Nemili Park

Nemili Park guideline value

The current guideline value of Nemili Park, located in Nemili village under the Sriperumpudur SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Nemili Park has changed

The guideline value for Nemili Park has undergone several revisions over the years. The earliest recorded figure in the register is from 2007, with a value of Rs 104 per sq.ft. This increased to Rs 250 per sq.ft in 2012, marking a significant rise of 140%. However, the value dropped to Rs 167 per sq.ft in 2017, a decrease of 33%. The current guideline value remained unchanged at Rs 250 per sq.ft from 2017 to 2023 and again from 2023 to 2024, reflecting no percentage change.

In summary, the guideline value has seen an overall increase of 140% from 2007 to 2024, with the most recent revisions showing stability in value over the last few years. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Nemili

In Nemili village, there are 66 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,000 per sq.ft. The median value is Rs 250 per sq.ft, which aligns with the current guideline value of Nemili Park.

• Nemili Sri Lakshmi Town: Rs 250 per sq.ft (2024)
• Nehru Street: Rs 250 per sq.ft (2024)
• Nehru Nagar: Rs 250 per sq.ft (2024)
• Nadu Street: Rs 210 per sq.ft (2024)
• Murugan Koil Street: Rs 210 per sq.ft (2024)
• Mookambigai Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Nemili Park

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty is charged at 7%, resulting in Rs 17,500, while the registration fee at 2% amounts to Rs 5,000. Thus, the total fees together would be Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nemili Park?

The Sub Registrar Office that covers Nemili Park is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Nemili Park. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per the government's regulations.

When you proceed with a property transaction, the guideline value will be referenced to determine the applicable fees. This helps in maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Nemili Park?

The current guideline value of Nemili Park is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most significant increase occurring from Rs 104 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, followed by a decrease to Rs 167 per sq.ft in 2017. The value has remained stable at Rs 250 per sq.ft from 2017 to 2024.

What are the other streets in Nemili with similar guideline values?

Several other streets in Nemili have a guideline value of Rs 250 per sq.ft, including Nemili Sri Lakshmi Town, Nehru Street, and Nehru Nagar. Other streets like Nadu Street and Murugan Koil Street have lower values of Rs 210 per sq.ft.

How is stamp duty calculated for properties in Nemili Park?

Stamp duty for properties in Nemili Park is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 2,50,000, the stamp duty at 7% would be Rs 17,500.

Where can I find the Sub Registrar Office for Nemili Park?

The Sub Registrar Office for Nemili Park is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more details by visiting the relevant link for your SRO.