Guideline Value for CLRI Nagar 17th Street

CLRI Nagar 17th Street guideline value

The current guideline value of CLRI Nagar 17th 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 17th Street has changed

The guideline value for CLRI Nagar 17th Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 2,500 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft. In 2023, the guideline value increased to Rs 2,500 per sq.ft, followed by a further increase to Rs 2,800 per sq.ft in 2024, marking a 12% rise from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 12%. Notably, the revisions for the years 2002, 2003, and 2007 do not have any recorded figures for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which means that CLRI Nagar 17th Street's 2024 figure is above this median.

• CLRI Nagar 16th Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 1st Main Road: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 15th Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 14th Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 2nd Main Road: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in CLRI Nagar 17th 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 at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to 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 also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers CLRI Nagar 17th Street?

The Sub Registrar Office that covers CLRI Nagar 17th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. 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 in property transactions in Neelankarai, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the current guideline value to avoid any discrepancies during registration. The guideline value serves as a benchmark for both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of CLRI Nagar 17th Street?

The current guideline value of CLRI Nagar 17th 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 increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for CLRI Nagar 17th Street?

CLRI Nagar 17th Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for property in CLRI Nagar 17th 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.

Where is the Sub Registrar Office for CLRI Nagar 17th Street located?

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