Guideline Value for Animal Park

Animal Park guideline value

The current guideline value of Animal Park in Neelankarai village is Rs 1,700 per sq.ft, effective from 1 July 2024. This area falls under the Neelankarai SRO and is classified as Residential Class III Type - I.

How the guideline value of Animal Park has changed

The guideline value for Animal Park has undergone several revisions over the years. The oldest recorded figure is from 2007, where the value was Rs 380 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 295%. However, between 2012 and 2017, the value decreased to Rs 1,005 per sq.ft, showing a decline of 33%. The value then rose sharply to Rs 1,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 1,700 per sq.ft, which is a 13% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 347%.

Guideline values in Neelankarai

In Neelankarai, 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 Animal Park is below this median.

• Anbalagan Street: Rs 1,700 per sq.ft (2024)
• Annai Murugammal Avenue: Rs 3,300 per sq.ft (2024)
• Annai Murugammal Nagar: Rs 3,300 per sq.ft (2024)
• Ambedkar Main Road: Rs 1,700 per sq.ft (2024)
• Anna Nagar Thoripakkam Salai: Rs 1,700 per sq.ft (2024)
• Anna Street/Anna Nagar: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Animal Park

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be 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. Together, the total fees would be Rs 1,53,000. 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 Animal Park?

The Sub Registrar Office that covers Animal Park 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 figure used during the registration of property transactions in Neelankarai. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall costs associated with the transaction. Buyers should ensure that they are prepared for these costs, which are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Animal Park?

The current guideline value of Animal Park 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 increased from Rs 380 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 347% over the years.

What are the stamp duty rates for property transactions?

The stamp duty rate is typically 7% of the guideline value or sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value for streets in Neelankarai?

The median guideline value for streets in Neelankarai is Rs 2,200 per sq.ft, with Animal Park's guideline value being below this median.