Guideline Value for C.G.S.FARM 2ND STREET

C.G.S.Farm 2nd Street guideline value

The current guideline value of C.G.S.Farm 2nd Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of C.G.S.Farm 2nd Street has changed

In the 2017 revision, the guideline value was Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,800 per sq.ft, reflecting a 12% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 67%. The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, and C.G.S.Farm 2nd Street's 2024 figure is above this median.

• C.G.S.Farm 2nd Cross Street Extension: Rs 2,800 per sq.ft (2024)
• C.G.S.Farm Main Street: Rs 2,800 per sq.ft (2024)
• C.G.S.Farm 1st Street 1st Cross Street: Rs 2,800 per sq.ft (2024)
• C.G.S. Farms 1st Street Cross Extension: Rs 2,800 per sq.ft (2024)
• C.G.S.Farm 1st Cross Street: Rs 2,800 per sq.ft (2024)
• C.G.S. Farms Main Road: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in C.G.S.Farm 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the guideline value totals 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, bringing the total to Rs 2,52,000. It is important to note that 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 C.G.S.Farm 2nd Street?

The C.G.S.Farm 2nd Street falls under 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 Sholinganallur - 1

The guideline value is a crucial factor during the registration of property transactions in Sholinganallur - 1. It serves as the minimum value for determining the stamp duty and registration fees payable when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of C.G.S.Farm 2nd Street?

The current guideline value of C.G.S.Farm 2nd Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,800 per sq.ft in 2024, which is an overall increase of 67%.

What is the stamp duty rate for property in C.G.S.Farm 2nd Street?

The stamp duty rate for property transactions in C.G.S.Farm 2nd Street is 7% of the guideline value or the sale price, whichever is higher.

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 are the other streets with the same guideline value in Sholinganallur - 1?

Other streets in Sholinganallur - 1 with the same guideline value of Rs 2,800 per sq.ft include C.G.S.Farm 2nd Cross Street Extension, C.G.S.Farm Main Street, C.G.S.Farm 1st Street 1st Cross Street, C.G.S. Farms 1st Street Cross Extension, C.G.S.Farm 1st Cross Street, and C.G.S. Farms Main Road.