Guideline Value for Neval Quarters Road

Neval Quarters Road guideline value

The current guideline value of Neval Quarters Road is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Neval Quarters Road has changed

The guideline value for Neval Quarters Road has seen revisions over the years, with the earliest recorded revision in 2012 setting the value at Rs 1,200 per sq.ft. The most recent revision in 2024 has increased this to Rs 1,300 per sq.ft, marking an increase of 8% from the 2012 figure.

It is important to note that the register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street. Therefore, the only available figures are from the 2012 and 2024 revisions.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Neval Quarters Road's 2024 figure below that median.

• Neval Quarters Main Road: Rs 1,300 per sq.ft (2024)
• New Ambedkar Cross Street: Rs 1,300 per sq.ft (2024)
• Neval Quarters 4th Street: Rs 1,300 per sq.ft (2024)
• New Ambedkar Street: Rs 1,300 per sq.ft (2024)
• Neval Quarters 3rd Street: Rs 1,300 per sq.ft (2024)
• Neval Quarters 3rd Main Road: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Neval Quarters Road

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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, totaling Rs 1,17,000. Duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Neval Quarters Road?

The Sub Registrar Office that covers Neval Quarters Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within 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 in the registration process for property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees required when buying or selling property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Neval Quarters Road?

The current guideline value of Neval Quarters Road 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, representing an increase of 8%. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002.

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 Road's 2024 figure is below this median.

What are the stamp duty and registration fees for property in Neval Quarters Road?

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 higher of the guideline value or the sale price.

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, in the Chengalpattu registration zone.