Guideline Value for Periya Neelankarai Kuppam 4th Cross Street

Periya Neelankarai Kuppam 4th Cross Street guideline value

The current guideline value of Periya Neelankarai Kuppam 4th Cross Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Periya Neelankarai Kuppam 4th Cross Street has changed

The guideline value for Periya Neelankarai Kuppam 4th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the Rs 1,005 per sq.ft in 2017. In 2023, the value increased to Rs 1,500 per sq.ft, and the latest 2024 revision has raised it to Rs 1,700 per sq.ft, marking a 13% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 1,500 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 13% despite the fluctuations in the earlier years. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai village, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which means that the 2024 guideline value of Periya Neelankarai Kuppam 4th Cross Street is below the median.

• Periya Neelankarai Kuppam 3rd Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 5th Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 2nd Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 6th Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 2nd Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 7th Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Neelankarai Kuppam 4th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periya Neelankarai Kuppam 4th Cross Street?

The Sub Registrar Office that covers Periya Neelankarai Kuppam 4th Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs associated with the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Periya Neelankarai Kuppam 4th Cross Street?

The current guideline value of Periya Neelankarai Kuppam 4th Cross Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012, showing a significant increase over the years.

What is the land classification for this street?

Periya Neelankarai Kuppam 4th Cross Street is classified as Residential Class III Type - I.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at 7%.