Guideline Value for CLASSIC RETREAT

Classic Retreat guideline value

The current guideline value of Classic Retreat is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in the village of Sholinganallur - 1 under the Neelankarai SRO and is classified as Residential Class II Type - I.

How the guideline value of Classic Retreat has changed

The guideline value for Classic Retreat has undergone several revisions over the years. The earliest recorded revision is from 2017, where the value was Rs 2,010 per sq.ft. The most recent revision in 2024 increased this value to Rs 3,300 per sq.ft, marking a significant increase of 64% from the 2017 figure.

It is important to note that there are no recorded figures for the years 2023, 2012, 2007, 2003, and 2002 for this street. Thus, the only relevant figures for Classic Retreat are from the 2017 and 2024 revisions.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Classic Retreat is above this median.

• Classic Farms: Rs 4,400 per sq.ft (2024)
• Copper Beach Road: Rs 4,400 per sq.ft (2024)
• C.R.Janaki Raman Street: Rs 2,200 per sq.ft (2024)
• Chockalingam Street (Grama Nedunchalai 7th Cross Street): Rs 2,200 per sq.ft (2024)
• Desco Heaven: Rs 2,200 per sq.ft (2024)
• Chidambaram Nagar Main Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Classic Retreat

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Classic Retreat?

The Sub Registrar Office that covers Classic Retreat 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 details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in the registration process when buying or selling property in Sholinganallur - 1. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, 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 value of the property being transferred.

Frequently asked questions

What is the current guideline value of Classic Retreat?

The current guideline value of Classic Retreat is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased by 64%, going from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024.

Are there any revisions for Classic Retreat in years other than 2017 and 2024?

No, the register has no figures for Classic Retreat in the years 2023, 2012, 2007, 2003, and 2002.

What is the median guideline value in Sholinganallur - 1?

The median guideline value in Sholinganallur - 1 is Rs 2,200 per sq.ft, with Classic Retreat's value being above this median.

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.