Guideline Value for CLRI Nagar 9th Street

CLRI Nagar 9th Street guideline value

The current guideline value of CLRI Nagar 9th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of CLRI Nagar 9th Street has changed

The guideline value of CLRI Nagar 9th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft. However, in 2017, it decreased to Rs 1,675 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 2,500 per sq.ft in 2023, followed by a further rise to Rs 2,800 per sq.ft in the 2024 revision, which represents a 12% increase from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 12% increase in the guideline value. 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 that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing CLRI Nagar 9th Street's 2024 figure above that median.

• CLRI Nagar 8th Street: Rs 2,800 per sq.ft (2024)
• Clri Ngaar Saraswathi Nagar West Extension: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 7th Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 4th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in CLRI Nagar 9th 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 together 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 use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers CLRI Nagar 9th Street?

The Sub Registrar Office that covers CLRI Nagar 9th 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable fees. Buyers should be aware that the fees are based on the higher of the guideline value or the sale price, which can affect the total cost involved in the transaction.

Frequently asked questions

What is the current guideline value of CLRI Nagar 9th Street?

The current guideline value of CLRI Nagar 9th 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 9th Street?

CLRI Nagar 9th Street is classified as Residential Class II Type - II.

How does the guideline value compare to other streets in Neelankarai?

The guideline value of Rs 2,800 per sq.ft for CLRI Nagar 9th Street is above the median value of Rs 2,200 per sq.ft for the 377 streets in Neelankarai under the Neelankarai SRO.

Where can I find the Sub Registrar Office for CLRI Nagar 9th Street?

The Sub Registrar Office for CLRI Nagar 9th Street is located at Neelankarai Sub Registrar Office, 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.