Guideline Value for SINDHU STREET

Sindhu Street guideline value

The current guideline value of Sindhu Street in Nemilicherry village is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Sindhu Street has changed

The guideline value for Sindhu Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in the 2023 revision, and the most recent 2024 revision has set the value at Rs 2,160 per sq.ft, marking an 8% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nemilicherry

Nemilicherry village has a total of 172 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,160 per sq.ft, which is equal to the current guideline value of Sindhu Street.

• Somasundaram Street: Rs 2,160 per sq.ft (2024)
• Somu Nagar: Rs 2,160 per sq.ft (2024)
• South Streets: Rs 2,160 per sq.ft (2024)
• Senthil Nagar: Rs 2,750 per sq.ft (2024)
• Sri Devi Amman Street: Rs 2,200 per sq.ft (2024)
• Sarathi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sindhu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty is charged at 7%, which totals Rs 1,51,200, and the registration fee is 2%, amounting to Rs 43,200. Together, the total cost for stamp duty and registration fee is Rs 1,94,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sindhu Street?

The Sub Registrar Office that covers Sindhu Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Nemilicherry, as it determines the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is legally recognized and documented.

When a buyer or seller engages in a property transaction, it is essential to refer to the current guideline value to understand the financial implications. The guideline value serves as a benchmark for property pricing and is updated periodically to reflect market conditions.

Frequently asked questions

What is the current guideline value of Sindhu Street?

The current guideline value of Sindhu Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification for Sindhu Street?

Sindhu Street is classified as Residential Class II Type - I under the Pallavaram SRO.

Where can I find the Sub Registrar Office for Sindhu Street?

The Sub Registrar Office for Sindhu Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Nemilicherry?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 21,60,000 incurs a stamp duty of Rs 1,51,200 at a rate of 7%.