Guideline Value for Neval Quarters 3rd Main Road

Neval Quarters 3rd Main Road guideline value

The current guideline value of Neval Quarters 3rd Main Road is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class II Type - II.

How the guideline value of Neval Quarters 3rd Main Road has changed

Since the 2012 revision, the guideline value for Neval Quarters 3rd Main Road has seen a change from Rs 1,200 per sq.ft to Rs 1,300 per sq.ft in the 2024 revision, marking an overall increase of 8%. The 2023 revision maintained the guideline value at Rs 1,200 per sq.ft, indicating no change from the previous revision in 2012.

There are no registered figures for the years 2002, 2003, 2007, and 2017 for this street. The most recent revisions show a clear progression from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, with an increase of 8% from 2023 to 2024.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with 2024 guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, positioning Neval Quarters 3rd Main Road below this median.

• Neval Quarters 2nd Street: Rs 1,300 per sq.ft (2024)
• Neval Quarters 3rd Street: Rs 1,300 per sq.ft (2024)
• Neval Quarters 2nd Main Road: Rs 1,300 per sq.ft (2024)
• Neval Quarters 4th Street: Rs 1,300 per sq.ft (2024)
• Neval Quarters 1st Street: Rs 1,300 per sq.ft (2024)
• Neval Quarters Main Road: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Neval Quarters 3rd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Neval Quarters 3rd Main Road?

The Neval Quarters 3rd Main Road falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value will be used to calculate the applicable duties, ensuring that the transaction is recorded at a value that reflects the current market standards set by the registration department.

Frequently asked questions

What is the current guideline value of Neval Quarters 3rd Main Road?

The current guideline value of Neval Quarters 3rd Main Road is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has increased from Rs 1,200 per sq.ft to Rs 1,300 per sq.ft in 2024, with no change recorded in 2023.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft, positioning Neval Quarters 3rd Main Road below this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.