Guideline Value for Neval Quarters 4th Street

Neval Quarters 4th Street guideline value

The current guideline value of Neval Quarters 4th 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 4th Street has changed

The guideline value for Neval Quarters 4th Street has undergone several revisions over the years. The earliest recorded revision was in 2002, but the register has no figure for this street for the years 2003, 2007, and 2017. In 2012, the guideline value was set at Rs 1,200 per sq.ft. There was an increase of 8% from the 2012 revision to the current 2024 revision, which is now Rs 1,300 per sq.ft.

In summary, the guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024. The register has no figures for the years 2023 and 2017 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, placing Neval Quarters 4th Street's 2024 figure below that median.

• Neval Quarters 3rd Street: Rs 1,300 per sq.ft (2024)
• Neval Quarters Main Road: Rs 1,300 per sq.ft (2024)
• Neval Quarters 3rd Main Road: Rs 1,300 per sq.ft (2024)
• Neval Quarters Road: Rs 1,300 per sq.ft (2024)
• Neval Quarters 2nd Street: Rs 1,300 per sq.ft (2024)
• New Ambedkar Cross Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Neval Quarters 4th Street

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 costs together to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Neval Quarters 4th Street?

The Sub Registrar Office that covers Neval Quarters 4th 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.

To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Madambakkam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly influences the costs associated with the transfer of property ownership. Understanding this value helps in making informed decisions during the buying and selling process.

Frequently asked questions

What is the current guideline value of Neval Quarters 4th Street?

The current guideline value of Neval Quarters 4th 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 changed from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, reflecting an increase of 8%. The register has no figures for the years 2003, 2007, 2017, and 2023 for this street.

What is the land classification for Neval Quarters 4th Street?

Neval Quarters 4th Street is classified as Residential Class II Type - II according to the land classification standards.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 13,00,000, the stamp duty is Rs 91,000, and the registration fee is Rs 26,000, totaling Rs 1,17,000. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Neval Quarters 4th Street 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, in the Chengalpattu registration zone.