Guideline Value for Periya Neelankarai Kuppam 7th Cross Street

Periya Neelankarai Kuppam 7th Cross Street guideline value

The current guideline value of Periya Neelankarai Kuppam 7th 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 7th Cross Street has changed

In 2012, the guideline value was Rs 1,500 per sq.ft. This figure remained until the 2017 revision, where it dropped significantly to Rs 1,005 per sq.ft, marking a decrease of 33%. Following this, the value increased to Rs 1,500 per sq.ft in the 2023 revision, and then rose again to Rs 1,700 per sq.ft in the 2024 revision, reflecting a 13% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 13% despite the fluctuation in the years in between.

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 value for these streets is Rs 2,200 per sq.ft, positioning Periya Neelankarai Kuppam 7th Cross Street below the median at Rs 1,700 per sq.ft.

• Periya Neelankarai Kuppam 6th Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 8th 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 9th Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 4th Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 3rd Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Neelankarai Kuppam 7th Cross Street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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 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 calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Periya Neelankarai Kuppam 7th Cross Street?

The Sub Registrar Office that covers Periya Neelankarai Kuppam 7th 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 critical component in the registration process of property transactions in Neelankarai. It serves as a reference point for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that they understand how the guideline value impacts the fees involved in the registration process.

Frequently asked questions

What is the current guideline value of Periya Neelankarai Kuppam 7th Cross Street?

The current guideline value of Periya Neelankarai Kuppam 7th 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 back 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 of Periya Neelankarai Kuppam 7th Cross Street?

Periya Neelankarai Kuppam 7th Cross Street is classified as Residential Class III Type - I.

Where can I find the registration office for this street?

The registration office for Periya Neelankarai Kuppam 7th 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.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.