Guideline Value for CRYSTAL

Crystal guideline value

The current guideline value for Crystal, located in Karapakkam village under the Neelankarai SRO, is Rs 8,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Crystal has changed

The guideline value for Crystal has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 7,500 per sq.ft. The latest revision in 2024 increased this figure to Rs 8,500 per sq.ft, marking a change of +13% from the previous year.

With the 2024 revision, the current guideline value reflects an increase that positions it above the median value for the 185 streets in Karapakkam, which is Rs 1,700 per sq.ft. The increase from 2023 to 2024 indicates a significant adjustment in the valuation of properties in this area.

Guideline values in Karapakkam

In Karapakkam, the guideline values range from Rs 1,000 to Rs 10,700 per sq.ft as of the 2024 revision. Crystal's guideline value of Rs 8,500 per sq.ft is notably above the median value of Rs 1,700 per sq.ft for the area. Below are the guideline values for other streets in Karapakkam:

• Darmaraja Koil Road: Rs 1,100 per sq.ft (2024)
• Chockalingam Garden: Rs 1,100 per sq.ft (2024)
• Dharmalingam Garden / Ponnusamy Garden: Rs 1,100 per sq.ft (2024)
• Dharmaraja Avenue: Rs 5,300 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 1,100 per sq.ft (2024)
• D.H.K.Ath K.Kumar Garden: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Crystal

For a 1,000 sq.ft plot at the current guideline value of Rs 8,500 per sq.ft, the total guideline value amounts to Rs 85,00,000. The stamp duty at 7% would be Rs 5,95,000, while the registration fee at 2% would be Rs 1,70,000. Together, these fees would total Rs 7,65,000. 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 details.

Which Sub Registrar Office covers Crystal?

The Sub Registrar Office that covers Crystal 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 Karapakkam

The guideline value plays a crucial role in property transactions in Karapakkam. It is used as a reference for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Crystal?

The current guideline value for Crystal is Rs 8,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Crystal has changed from Rs 7,500 per sq.ft in 2023 to Rs 8,500 per sq.ft in 2024, reflecting a +13% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Crystal?

The land classification for Crystal is Commercial Class I Type - I, indicating its suitability for commercial activities.

What are the guideline values for other streets in Karapakkam?

Other streets in Karapakkam have varying guideline values, ranging from Rs 1,100 per sq.ft to Rs 5,300 per sq.ft, with Crystal being above the median value of Rs 1,700 per sq.ft.

Where is the Sub Registrar Office for Crystal located?

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