Guideline Value for SRI NEELAGANDESWARAR NAGAR

Sri Neelagandeswarar Nagar guideline value

The current guideline value of Sri Neelagandeswarar Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Neelamangalam village under the Gooduvancheri SRO and is classified as Residential Class IV Type - III.

How the guideline value of Sri Neelagandeswarar Nagar has changed

Since the 2002 revision, there have been several updates to the guideline value for Sri Neelagandeswarar Nagar. The register has no figure for this street for the years 2002, 2003, 2007, and 2012. The 2017 revision set the guideline value at Rs 1,200 per sq.ft, which remained unchanged in the 2023 revision. The most recent revision in 2024 also maintains the guideline value at Rs 1,200 per sq.ft, resulting in no percentage change across these years.

Overall, from the 2017 revision to the 2024 revision, the guideline value has seen a consistent figure of Rs 1,200 per sq.ft, reflecting no increase or decrease during this period. The changes from 2023 to 2024 also indicate a stable guideline value with a change of +0%.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing Sri Neelagandeswarar Nagar's 2024 figure above this median.

• Sri Muppathamman Nagar: Rs 600 per sq.ft (2024)
• SRI Mayil vaganam Nagar: Rs 500 per sq.ft (2024)
• Sri Iyyanar Nagar: Rs 500 per sq.ft (2024)
• Sri Ganapathi Nagar Colony: Rs 500 per sq.ft (2024)
• Sri Balaji Avenue (II & III): Rs 600 per sq.ft (2024)
• Sri Varasakthi Vinayagar Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Neelagandeswarar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty is calculated at 7%, resulting in Rs 84,000, while the registration fee is charged at 2%, amounting to Rs 24,000. Together, the total cost for these fees is Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Neelagandeswarar Nagar?

Sri Neelagandeswarar Nagar falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Neelamangalam. It is the basis on which stamp duty and registration fees are calculated, ensuring that these costs are aligned with the official valuation of the property.

When a buyer or seller engages in a transaction, the guideline value ensures transparency and consistency in the process. It helps both parties understand the minimum value that will be recognized for the purpose of taxation and registration.

Frequently asked questions

What is the current guideline value of Sri Neelagandeswarar Nagar?

The current guideline value of Sri Neelagandeswarar Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained constant at Rs 1,200 per sq.ft from 2017 through 2024, with no changes recorded in the revisions for the years 2023, 2017, and earlier revisions.

What is the land classification for Sri Neelagandeswarar Nagar?

Sri Neelagandeswarar Nagar is classified as Residential Class IV Type - III, indicating its designated use for residential purposes.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Neelagandeswarar Nagar?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. The total fees are based on the higher of the guideline value or the sale price.