Guideline Value for Blue Beach Road

Blue Beach Road guideline value

The current guideline value of Blue Beach Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Blue Beach Road has changed

The guideline value for Blue Beach Road has seen significant changes over the years. In 2002, the guideline value was Rs 748 per sq.ft, which increased to Rs 813 per sq.ft in 2003. This marked a rise of 9%. The value continued to climb, reaching Rs 1,500 per sq.ft in 2007, reflecting an increase of 85%. By 2012, the value was Rs 4,000 per sq.ft, showing a substantial increase of 167% from the previous revision. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 4,000 per sq.ft, marking a 49% increase. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 488%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values 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 Blue Beach Road's 2024 figure above that median.

• Blue Beach Lane: Rs 4,400 per sq.ft (2024)
• Blue Beach Kuppam: Rs 1,700 per sq.ft (2024)
• Blue Breeze: Rs 6,100 per sq.ft (2024)
• Brindavanam Nagar: Rs 1,700 per sq.ft (2024)
• Bharathiyar Street (Vaidyalingam Street): Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar Selva Vinayagar Koil Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Blue Beach Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Blue Beach Road?

The Sub Registrar Office that covers Blue Beach Road 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 factor when buying or selling property in Neelankarai. It determines the minimum value at which a property can be registered, ensuring transparency in property transactions. Buyers and sellers must consider this value to understand the financial implications of their transactions.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the costs involved in the transaction, which are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Blue Beach Road?

The current guideline value of Blue Beach Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 748 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 488% over the years.

What is the median guideline value in Neelankarai?

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

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Blue Beach Road located?

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