Guideline Value for Nemili Sri Lakshmi Town

Nemili Sri Lakshmi Town guideline value

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

How the guideline value of Nemili Sri Lakshmi Town has changed

Over the years, the guideline value for Nemili Sri Lakshmi Town has seen several revisions. The earliest recorded figure is from 2007, which was Rs 100 per sq.ft. This increased to Rs 250 per sq.ft in 2012, marking a significant rise of 150%. However, in 2017, the value decreased to Rs 167 per sq.ft, reflecting a decline of 33%. The subsequent revisions maintained the value at Rs 250 per sq.ft in both 2023 and 2024, indicating no change from the previous year.

In summary, from 2017 to 2023, the guideline value rose by 50%, while from 2007 to 2024, the overall increase amounts to 150%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nemili

The village of Nemili has 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 is equal to the current guideline value of this street.

• Nemili Park: 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 Sri Lakshmi Town

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, while the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nemili Sri Lakshmi Town?

The Sub Registrar Office that covers Nemili Sri Lakshmi Town is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nemili Sri Lakshmi Town. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the negotiated sale price.

When a property is registered, the guideline value is referenced to determine the applicable duties. This ensures transparency in the transaction and helps in maintaining a consistent valuation across similar properties in the area.

Frequently asked questions

What is the current guideline value of Nemili Sri Lakshmi Town?

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

How has the guideline value changed over the years?

The guideline value has experienced fluctuations, starting at Rs 100 per sq.ft in 2007, rising to Rs 250 per sq.ft in 2012, dropping to Rs 167 per sq.ft in 2017, and remaining at Rs 250 per sq.ft in both 2023 and 2024.

What is the registration office for Nemili Sri Lakshmi Town?

The registration office for Nemili Sri Lakshmi Town is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated in Nemili Sri Lakshmi Town?

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 2,50,000 would incur a stamp duty of Rs 17,500 at 7%.

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

Other streets in Nemili include Nemili Park, Nehru Street, Nehru Nagar, Nadu Street, Murugan Koil Street, and Mookambigai Nagar, with guideline values ranging from Rs 210 to Rs 250 per sq.ft.