Guideline Value for CLRI Nagar 12nd Street

CLRI Nagar 12nd Street guideline value

The current guideline value of CLRI Nagar 12nd Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of CLRI Nagar 12nd Street has changed

The guideline value for CLRI Nagar 12nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and then rose again to the current rate of Rs 2,800 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects an increase of 12%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for CLRI Nagar 12nd Street is above this median.

• CLRI Nagar 11th Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 13th Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 10th Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 14th Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 15th Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 16th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in CLRI Nagar 12nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to 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. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers CLRI Nagar 12nd Street?

The Sub Registrar Office that covers CLRI Nagar 12nd 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 Neelankarai

The guideline value is a crucial factor during the registration process of property transactions in Neelankarai. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded accurately in the official registry.

When buying or selling property, the guideline value serves as a benchmark for assessing the value of the property. It helps in maintaining transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of CLRI Nagar 12nd Street?

The current guideline value of CLRI Nagar 12nd 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 changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in CLRI Nagar 12nd 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 Sub Registrar Office covers CLRI Nagar 12nd Street?

The Neelankarai Sub Registrar Office covers CLRI Nagar 12nd Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for CLRI Nagar 12nd Street?

CLRI Nagar 12nd Street is classified as Residential Class II Type - II.