Guideline Value for CLRI Nagar 3rd Main Road

CLRI Nagar 3rd Main Road guideline value

The current guideline value of CLRI Nagar 3rd Main Road is Rs 2,800 per sq.ft, effective from 1 July 2024. This road 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 3rd Main Road has changed

The guideline value for CLRI Nagar 3rd Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced 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. The latest revision in 2024 has raised the guideline value to Rs 2,800 per sq.ft, marking a 12% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 12%. The changes between specific revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing CLRI Nagar 3rd Main Road's 2024 figure above that median.

• CLRI Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 2nd Main Road: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 5th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in CLRI Nagar 3rd Main Road

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 cost for these fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers CLRI Nagar 3rd Main Road?

The Sub Registrar Office that covers CLRI Nagar 3rd Main Road is located at Neelankarai Sub Registrar Office, 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 in the registration process when buying or selling property in Neelankarai. It determines the amount of stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

Frequently asked questions

What is the current guideline value of CLRI Nagar 3rd Main Road?

The current guideline value of CLRI Nagar 3rd Main Road is Rs 2,800 per sq.ft, effective from 1 July 2024.

How often does the guideline value change?

The guideline value is revised periodically, with the most recent revisions occurring in 2024, 2023, 2017, and 2012. The frequency of these revisions can vary based on government policies.

What is the classification of CLRI Nagar 3rd Main Road?

CLRI Nagar 3rd Main Road is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

How is the stamp duty calculated for properties in Neelankarai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.

Where can I find more information about the Neelankarai SRO?

More information about the Neelankarai SRO can be found at the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.