Guideline Value for BEACH WALK

Beach Walk guideline value

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

How the guideline value of Beach Walk has changed

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

Overall, from 2017 to 2024, the guideline value has increased by 65%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO with 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's 2024 figure above this median.

• Beach Walk One: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 9,500 per sq.ft, the total guideline value amounts to Rs 95,00,000. The stamp duty at 7% would be 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. 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 detailed calculations.

Which Sub Registrar Office covers Beach Walk?

The Beach Walk area is covered by 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 in the registration process when buying or selling property in Neelankarai. It determines the stamp duty and registration fees that need to be paid at the time of registration.

Understanding the guideline value is essential for property transactions, as it ensures that both buyers and sellers are aware of the official valuation of the property, which is used for calculating the applicable fees and duties.

Frequently asked questions

What is the current guideline value for Beach Walk?

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

How much has the guideline value changed over the years?

The guideline value has increased from Rs 5,750 per sq.ft in 2017 to Rs 9,500 per sq.ft in 2024, marking an overall increase of 65% over this period.

What are the stamp duty and registration fees for property in Beach Walk?

For a property valued at Rs 95,00,000, the stamp duty would be Rs 6,65,000, and the registration fee would be Rs 1,90,000, totaling Rs 8,55,000.

Which Sub Registrar Office covers Beach Walk?

The Neelankarai Sub Registrar Office covers Beach Walk, 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 Beach Walk's value being significantly higher at Rs 9,500 per sq.ft.