Guideline Value for Casuarina Drive

Casuarina Drive guideline value

The current guideline value of Casuarina Drive is Rs 5,500 per sq.ft. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Special Type - III.

How the guideline value of Casuarina Drive has changed

The guideline value for Casuarina Drive has seen significant changes over the years. In the 2002 revision, the value was Rs 715 per sq.ft. This increased to Rs 778 per sq.ft in 2003, marking a 9% rise. The next revision in 2007 saw a substantial jump to Rs 1,000 per sq.ft, which is a 29% increase from the previous year. However, in 2012, the value reverted to Rs 5,000 per sq.ft, a decrease of 400% from the 2007 figure.

From 2012 to 2017, the guideline value decreased further to Rs 3,350 per sq.ft, reflecting a 33% drop. The value then rose to Rs 5,000 per sq.ft in the 2023 revision, an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, representing a 10% increase from the previous year.

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 guideline value for the area is Rs 2,200 per sq.ft, placing Casuarina Drive's 2024 figure above that median.

• Brindavanam Nagar: Rs 1,700 per sq.ft (2024)
• Blue Breeze: Rs 6,100 per sq.ft (2024)
• Blue Beach Road: Rs 4,400 per sq.ft (2024)
• Blue Beach Lane: Rs 4,400 per sq.ft (2024)
• Blue Beach Kuppam: Rs 1,700 per sq.ft (2024)
• Chinna Neelankarai Kuppam Centre Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Casuarina Drive

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total fees together Rs 4,95,000. 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 Casuarina Drive?

Casuarina Drive falls under the jurisdiction of 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 critical factor in the registration of property transactions in Neelankarai. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during property transfers.

When you buy or sell property in Neelankarai, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the official value set by the Registration Department. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Casuarina Drive?

The current guideline value of Casuarina Drive is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 715 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 669% over this period.

What are the stamp duty and registration fees for property in Casuarina Drive?

For a 1,000 sq.ft property, the total guideline value is Rs 55,00,000. The stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registrations for Casuarina Drive?

The Neelankarai Sub Registrar Office handles property registrations for Casuarina Drive, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Casuarina Drive?

Casuarina Drive is classified as Residential Special Type - III, indicating its designated use for residential purposes under the local zoning regulations.