Guideline Value for Periya Neelankarai Kuppam

Periya Neelankarai Kuppam guideline value

The current guideline value of Periya Neelankarai Kuppam 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 has changed

The guideline value for Periya Neelankarai Kuppam has seen significant changes over the years. In 2002, the guideline value was Rs 172 per sq.ft, which increased to Rs 187 per sq.ft in 2003. Following this, the value rose to Rs 250 per sq.ft in 2007, marking an increase of 34%. The value jumped dramatically to Rs 1,500 per sq.ft in 2012, reflecting a 500% increase. However, it decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 1,500 per sq.ft in 2023, before reaching the current value of Rs 1,700 per sq.ft in 2024, which is a 13% increase.

Overall, from 2002 to 2024, the guideline value has increased by 888%. The register has no figures for any other revisions for this street.

Guideline values in Neelankarai

In Neelankarai village, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Periya Neelankarai Kuppam is below this median.

• Periya Neelankarai Kuppam 10th Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 11th Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 12th Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 1st Cross Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 1st Street: Rs 1,700 per sq.ft (2024)
• Periya Neelankarai Kuppam 2nd Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Neelankarai Kuppam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, the total cost for these fees would be 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periya Neelankarai Kuppam?

The Sub Registrar Office that covers Periya Neelankarai Kuppam 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 is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that these fees are calculated based on the higher of either the guideline value or the sale price of the property.

When registering a property, it is essential to ensure that the guideline value is accurately reflected in the documentation. This helps in maintaining transparency and compliance with local regulations, ensuring a smooth transaction process.

Frequently asked questions

What is the current guideline value of Periya Neelankarai Kuppam?

The current guideline value of Periya Neelankarai Kuppam 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 significantly from Rs 172 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 888% over the years.

What are the stamp duty and registration fees for property in Periya Neelankarai Kuppam?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,53,000.

Which office handles property registrations in Periya Neelankarai Kuppam?

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

What is the land classification for Periya Neelankarai Kuppam?

Periya Neelankarai Kuppam is classified as Residential Class III Type - I, which is relevant for determining its guideline value and other regulatory aspects.