Guideline Value for Beach Road

Beach Road guideline value

The current guideline value of Beach Road in Neelankarai village is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai Sub Registrar Office (SRO) and is classified as Residential Class II Type - II.

How the guideline value of Beach Road has changed

The guideline value for Beach Road has undergone several revisions over the years. The earliest recorded revision was in 2012, setting the value at Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 2,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 2,800 per sq.ft, marking a 12% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has risen by 12%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 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 in this area is Rs 2,200 per sq.ft, placing Beach Road's 2024 figure above that median.

• Beach Walk: Rs 9,500 per sq.ft (2024)
• Beach Walk One: Rs 9,500 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 Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, resulting in a total of Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Beach Road?

The Beach Road 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 of property transactions in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value is used to ensure that the transaction is recorded at a fair value as per the local regulations. This helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Beach Road?

The current guideline value of Beach Road is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for Beach Road?

Beach Road is classified as Residential Class II Type - II under the Neelankarai SRO.

What is the median guideline value in Neelankarai?

The median guideline value in Neelankarai is Rs 2,200 per sq.ft, with Beach Road's current value being above this median.

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.