Guideline Value for CHINNAPPA NAICKAR STREET

Chinnappa Naickar Street guideline value

The current guideline value of Chinnappa Naickar Street in Okkiyamthuraipakkam village is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class II Type - II.

How the guideline value of Chinnappa Naickar Street has changed

The guideline value for Chinnappa Naickar Street has undergone several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this value saw a decrease to Rs 1,675 per sq.ft in 2017. Following this, the guideline value rose to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 2,800 per sq.ft. The register has no figure for this street in 2002 and 2003.

Between the revisions, notable changes include a 213% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 12% increase from 2023 to 2024. Overall, from 2007 to 2024, there has been a 250% increase in the guideline value.

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 in this area is Rs 3,300 per sq.ft, making Chinnappa Naickar Street's 2024 figure below that median.

• Chandrasekar Avenue East, West: Rs 4,400 per sq.ft (2024)
• Chandrasekar Avenue 2 Nd Street Avenue: Rs 4,400 per sq.ft (2024)
• C.L.Metha Salai: Rs 6,700 per sq.ft (2024)
• CHANDRASEKAR AVENUE 1st, STREET: Rs 4,400 per sq.ft (2024)
• Chandrasekar Avenue, 1, 2 Main Road: Rs 4,400 per sq.ft (2024)
• Chandrasekaran Nagar Extension: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnappa Naickar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total fees Rs 2,52,000. It is important to note that the 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 Chinnappa Naickar Street?

The Sub Registrar Office that covers Chinnappa Naickar 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 further assistance.

How the guideline value is used when you buy or sell in Okkiyamthuraipakkam

The guideline value is a crucial factor in property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is bought or sold, the guideline value influences the calculation of stamp duty and registration fees. This ensures that the government receives appropriate revenue based on the property's assessed value, reflecting the market conditions in the area.

Frequently asked questions

What is the current guideline value of Chinnappa Naickar Street?

The current guideline value of Chinnappa Naickar Street 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 increased from Rs 800 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, showing an overall increase of 250% over the years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles registrations for Chinnappa Naickar Street?

The Neelankarai Sub Registrar Office handles registrations for Chinnappa Naickar Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification of Chinnappa Naickar Street?

Chinnappa Naickar Street is classified as Residential Class II Type - II, indicating its intended use for residential purposes.