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Guideline Value

Corporate

Guideline Value for CHANDRASEKAR AVENUE 2 ND STREET AVENUE

₹4400/sq.ft.

The guideline value for Chandrasekar Avenue 2 Nd Street Avenue in Okkiyamthuraipakkam village (Neelankarai SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Okkiyamthuraipakkam

Village

Neelankarai

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Chandrasekar Avenue 2 Nd Street Avenue

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Chandrasekar Avenue 2 Nd Street Avenue guideline value

The current guideline value of Chandrasekar Avenue 2 Nd Street Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class I Type - I.

How the guideline value of Chandrasekar Avenue 2 Nd Street Avenue has changed

In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. It then decreased to Rs 2,680 per sq.ft in the 2017 revision, marking a decline of 33%. The value rose significantly to Rs 4,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 4,400 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%, demonstrating fluctuations in the value over the years.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing the 2024 guideline value of Chandrasekar Avenue 2 Nd Street Avenue above this median.

Stamp duty and registration fee for property in Chandrasekar Avenue 2 Nd Street Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty is charged at 7%, which totals Rs 3,08,000, while the registration fee at 2% amounts to Rs 88,000. Therefore, the total cost for stamp duty and registration fees combined is Rs 3,96,000. 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 further calculations.

Which Sub Registrar Office covers Chandrasekar Avenue 2 Nd Street Avenue?

The Sub Registrar Office that covers Chandrasekar Avenue 2 Nd Street Avenue 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 Okkiyamthuraipakkam

The guideline value is an important factor in the registration process when buying or selling property. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transactions.

When a buyer or seller registers a property, the guideline value helps in establishing a baseline for the property’s worth. This value is crucial for both parties to understand the financial implications of the sale, including taxes and fees that must be paid during the transaction.

Frequently asked questions

What is the current guideline value of Chandrasekar Avenue 2 Nd Street Avenue?

The current guideline value of Chandrasekar Avenue 2 Nd Street Avenue 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 changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Chandrasekar Avenue 2 Nd Street Avenue?

Chandrasekar Avenue 2 Nd Street Avenue is classified as Residential Class I Type - I.

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.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.