Guideline Value for C.G.S.FARM MAIN STREET

C.G.S.Farm Main Street guideline value

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

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

The guideline value for C.G.S.Farm Main Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, up from Rs 2,500 per sq.ft in 2023, marking a 12% increase. Prior to that, the 2017 revision recorded a value of Rs 1,675 per sq.ft, which means there was a significant increase of 49% from 2017 to 2023.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 67%.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing C.G.S.Farm Main Street above this median.

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

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

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, charged at 7%, would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total charges Rs 2,52,000. 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 C.G.S.Farm Main Street?

The Sub Registrar Office that covers C.G.S.Farm Main Street 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 Sholinganallur - 1

The guideline value plays a crucial role during property transactions in Sholinganallur - 1. It is used to determine the stamp duty and registration fees applicable when buying or selling a property. Buyers should be aware that the guideline value is often used as a reference point for the sale price, ensuring that the transaction is registered accurately.

When registering a property, the guideline value is essential for calculating various fees. It is important for both buyers and sellers to understand how this value impacts their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for C.G.S.Farm Main Street?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,675 per sq.ft in 2017 to Rs 2,800 per sq.ft in 2024, representing an overall increase of 67%.

What is the land classification for C.G.S.Farm Main Street?

C.G.S.Farm Main Street is classified as Residential Class II Type - II, indicating its designation for residential use.

Where can I find the Neelankarai Sub Registrar Office?

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

How is stamp duty calculated for properties in C.G.S.Farm Main Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 28,00,000 would incur a stamp duty of Rs 1,96,000 at the current rate of 7%.