Guideline Value for Periya Neelankarai Kuppam 9th Cross Street

Periya Neelankarai Kuppam 9th Cross Street guideline value

The current guideline value of Periya Neelankarai Kuppam 9th 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 9th Cross Street has changed

The guideline value of Periya Neelankarai Kuppam 9th Cross Street has undergone several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision set the value at Rs 1,500 per sq.ft, and the most recent 2024 revision increased it to Rs 1,700 per sq.ft.

Between the revisions, there have been notable changes. From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The most recent change from 2023 to 2024 reflects a 13% increase. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Neelankarai

In total, there are 377 streets in Neelankarai under the Neelankarai SRO that carry a 2024 guideline value, 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, placing the 2024 figure for Periya Neelankarai Kuppam 9th Cross Street below this median.

• Periya Neelankarai Kuppam 8th 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 6th 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 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 9th 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, totaling Rs 1,53,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periya Neelankarai Kuppam 9th Cross Street?

The Sub Registrar Office that covers Periya Neelankarai Kuppam 9th 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 when buying or selling property in Neelankarai. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

Additionally, the guideline value influences the stamp duty and registration fees applicable to the property. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Periya Neelankarai Kuppam 9th Cross Street?

The current guideline value of Periya Neelankarai Kuppam 9th 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 for this street?

Periya Neelankarai Kuppam 9th Cross Street is classified as Residential Class III Type - I.

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

For a 1,000 sq.ft plot, the total cost for stamp duty and registration fees would be Rs 1,53,000, based on the current guideline value of Rs 17,00,000.

Which office handles registrations for this street?

The Neelankarai Sub Registrar Office handles registrations for Periya Neelankarai Kuppam 9th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.