Guideline Value for Neval Quarters 1st Street

Neval Quarters 1st Street guideline value

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

How the guideline value of Neval Quarters 1st Street has changed

The guideline value for Neval Quarters 1st Street has seen revisions over the years. The earliest recorded revision was in 2002, but the register has no figure for this street in that year, nor in 2003, 2007, 2017, and 2023. The next available revision was in 2012, which set the value at Rs 1,200 per sq.ft.

The most recent revision in 2024 increased the guideline value to Rs 1,300 per sq.ft, reflecting an increase of 8% from the 2012 figure. This change indicates a steady adjustment in the guideline value over the years.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value 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 1st Street's 2024 figure below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost to Rs 1,17,000. 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 Neval Quarters 1st Street?

The Sub Registrar Office that covers Neval Quarters 1st Street is 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 details.

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

The guideline value is a crucial factor when it comes to the registration of property transactions in Madambakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the officially recognized value of the property.

When a property is bought or sold, the guideline value helps to determine the minimum price at which the property can be registered. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Neval Quarters 1st Street?

The current guideline value of Neval Quarters 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Neval Quarters 1st Street was Rs 1,200 per sq.ft in 2012 and increased to Rs 1,300 per sq.ft in 2024, marking an 8% increase. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft. Neval Quarters 1st Street's 2024 guideline value is below this median.

What are the stamp duty and registration fees for properties in Neval Quarters 1st Street?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Neval Quarters 1st Street?

The Selaiyur Sub Registrar Office covers Neval Quarters 1st Street and is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.