Guideline Value for Nemili Road

Nemili Road guideline value

The current guideline value of Nemili Road in Mannoor village is Rs 300 per sq.ft, effective from 1 July 2024. This falls under the jurisdiction of the Sriperumpudur Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Nemili Road has changed

The guideline value for Nemili Road has undergone several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2023 revision. In 2017, the value was Rs 201 per sq.ft, marking a decrease of 33% from the previous 2012 figure. The 2023 revision maintained the value at Rs 300 per sq.ft, which continued into the 2024 revision, showing no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been no change, with the value consistently at Rs 300 per sq.ft since 2012, apart from the dip in 2017.

Guideline values in Mannoor

Mannoor village has a total of 56 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,500 per sq.ft. The median value among these streets is Rs 250 per sq.ft, positioning Nemili Road's 2024 figure above this median.

• Ochan street: Rs 250 per sq.ft (2024)
• Muthu Street: Rs 200 per sq.ft (2024)
• Pachiappan Nagar: Rs 250 per sq.ft (2024)
• Murugan Nagar: Rs 100 per sq.ft (2024)
• Pallikuda Street: Rs 200 per sq.ft (2024)
• Palvadi Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Nemili Road

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees together to Rs 27,000. 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 Road?

The Nemili Road falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Mannoor. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale of property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to assess the applicable fees, ensuring that both parties are aware of the financial obligations involved. This value helps maintain transparency in property transactions and is essential for legal documentation.

Frequently asked questions

What is the current guideline value of Nemili Road?

The current guideline value of Nemili Road is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since 2012, with a significant increase of 49% from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023. There has been no change from 2023 to 2024.

What is the median guideline value in Mannoor?

The median guideline value in Mannoor is Rs 250 per sq.ft, with Nemili Road's guideline value of Rs 300 per sq.ft being above this median.

How is stamp duty calculated for properties in Nemili Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 at a rate of 7%.

Where is the Sub Registrar Office for Nemili Road located?

The Sub Registrar Office covering Nemili Road is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.