Guideline Value for Chinna Neelankarai Kuppam North Street

Chinna Neelankarai Kuppam North Street guideline value

The current guideline value of Chinna Neelankarai Kuppam North Street is Rs 1,700 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 III Type - I.

How the guideline value of Chinna Neelankarai Kuppam North Street has changed

The guideline value for Chinna Neelankarai Kuppam North Street has undergone several revisions over the years. In 2012, the value was Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then to Rs 1,700 per sq.ft in 2024. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 represents a 13% increase. Overall, from 2012 to 2024, the guideline value has increased by 13%.

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, indicating that the guideline value for Chinna Neelankarai Kuppam North Street is below this median.

• Chinna Neelankarai Kuppam Centre Street: Rs 1,700 per sq.ft (2024)
• Chinna Neelankarai Kuppam South Street: Rs 1,700 per sq.ft (2024)
• CLRI Nagar 10th Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 11th Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 12nd Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 13th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Chinna Neelankarai Kuppam North Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chinna Neelankarai Kuppam North Street?

The Sub Registrar Office that covers Chinna Neelankarai Kuppam North 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 information.

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

The guideline value plays a crucial role when buying or selling property in Neelankarai. It is used to determine the stamp duty and registration fees applicable during the property transaction. The fees are calculated based on the higher of the guideline value and the sale price.

When registering a property, it is essential to be aware of the guideline value, as it ensures compliance with local regulations and helps in understanding the financial implications of the transaction. Buyers and sellers should consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Chinna Neelankarai Kuppam North Street?

The current guideline value of Chinna Neelankarai Kuppam North Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of this street?

Chinna Neelankarai Kuppam North Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000, and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where is the Sub Registrar Office located?

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