Guideline Value for BEACH WALK ONE

Beach Walk One guideline value

The current guideline value of Beach Walk One in Neelankarai village, under the Neelankarai SRO, is Rs 9,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Beach Walk One has changed

The guideline value for Beach Walk One has seen significant changes over the years. In the 2017 revision, the value was Rs 5,750 per sq.ft. This increased to Rs 8,583 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 set the value at Rs 9,500 per sq.ft, which is an 11% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 65%.

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. The median value for these streets is Rs 2,200 per sq.ft, placing Beach Walk One's 2024 figure above that median.

• Beach Walk: Rs 9,500 per sq.ft (2024)
• Beach Road: Rs 2,800 per sq.ft (2024)
• Begum Street: Rs 1,700 per sq.ft (2024)
• Bharathidasan Street (Vaidyalingam Street): Rs 1,700 per sq.ft (2024)
• Bharathi Nagar: Rs 1,700 per sq.ft (2024)
• Bharathi Nagar 1st Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Beach Walk One

For a 1,000 sq.ft plot at the current guideline value of Rs 9,500 per sq.ft, the total guideline value would be Rs 95,00,000. The stamp duty at 7% would amount to Rs 6,65,000, and the registration fee at 2% would be Rs 1,90,000, making the total cost for these fees Rs 8,55,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Beach Walk One?

The Sub Registrar Office that covers Beach Walk One 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 plays a crucial role during property transactions in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is registered.

When buying or selling property, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Beach Walk One?

The current guideline value of Beach Walk One is Rs 9,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 5,750 per sq.ft in 2017 to Rs 8,583 per sq.ft in 2023, and then to Rs 9,500 per sq.ft in 2024. This represents a total increase of 65% from 2017 to 2024.

What are the other streets in Neelankarai and their guideline values?

Other streets in Neelankarai include Beach Road at Rs 2,800 per sq.ft, Begum Street at Rs 1,700 per sq.ft, and Bharathi Nagar at Rs 1,700 per sq.ft, among others. Beach Walk One has a higher guideline value compared to these streets.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current rate would incur total fees of Rs 8,55,000.

Which office handles the registration for Beach Walk One?

The Neelankarai Sub Registrar Office handles the registration for Beach Walk One. It is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.