Guideline Value for Periya Neelankarai Kuppam 5th Cross Street

Periya Neelankarai Kuppam 5th Cross Street guideline value

The current guideline value of Periya Neelankarai Kuppam 5th 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 5th Cross Street has changed

Over the years, the guideline value of Periya Neelankarai Kuppam 5th Cross Street has seen several revisions. The earliest available figure is from 2012, where the value was Rs 1,500 per sq.ft. This value remained the same in 2012 and then decreased to Rs 1,005 per sq.ft in 2017. Following this, there was a significant increase to Rs 1,500 per sq.ft in 2023, and then a further rise to Rs 1,700 per sq.ft in 2024, marking a 13% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. When comparing the values from 2012 to 2024, there has been an overall increase of 13%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, 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 guideline value for the village is Rs 2,200 per sq.ft, indicating that the 2024 figure for Periya Neelankarai Kuppam 5th Cross Street is below this median.

• Periya Neelankarai Kuppam 4th Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 6th Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 3rd Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 7th Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 2nd Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 8th Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Neelankarai Kuppam 5th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost for these fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Periya Neelankarai Kuppam 5th Cross Street?

The Sub Registrar Office that covers Periya Neelankarai Kuppam 5th 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 is a crucial factor during the registration of property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the fair value of the property. It is essential to consider this value, as it influences the overall transaction costs, including taxes and fees associated with the property transfer.

Frequently asked questions

What is the current guideline value of Periya Neelankarai Kuppam 5th Cross Street?

The current guideline value of Periya Neelankarai Kuppam 5th 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 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for this street?

Periya Neelankarai Kuppam 5th Cross Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Periya Neelankarai Kuppam 5th Cross Street 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, a property with a guideline value of Rs 17,00,000 would incur a stamp duty of Rs 1,19,000 at 7%.