Guideline Value for Chinna Neelankarai Kuppam South Street

Chinna Neelankarai Kuppam South Street guideline value

The current guideline value of Chinna Neelankarai Kuppam South 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 South Street has changed

The guideline value for Chinna Neelankarai Kuppam South Street has seen several revisions over the years. In 2002, the value was Rs 333 per sq.ft, which increased to Rs 362 per sq.ft in 2003. Following that, the value rose significantly to Rs 700 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in 2017, before increasing again to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft.

Between these revisions, there were notable changes. From 2002 to 2003, the increase was +9%. The value surged by +93% from 2003 to 2007, followed by a +114% increase from 2007 to 2012. However, there was a decrease of -33% from 2012 to 2017. The value then increased by +49% from 2017 to 2023, and finally, there was a +13% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +411%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Chinna Neelankarai Kuppam South Street's 2024 figure below that median.

• Chinna Neelankarai Kuppam North Street: Rs 1,700 per sq.ft (2024)
• Chinna Neelankarai Kuppam Centre 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 South 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chinna Neelankarai Kuppam South Street?

The Chinna Neelankarai Kuppam South Street is covered by 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 in the registration process when buying or selling property in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is referred to, and the stamp duty is calculated based on this value or the sale price, whichever is higher. This ensures that the registration process is conducted transparently and fairly.

Frequently asked questions

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

The current guideline value of Chinna Neelankarai Kuppam South 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 significantly, increasing from Rs 333 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, marking an overall increase of +411% over this period.

What is the median guideline value in Neelankarai?

The median guideline value for the 377 streets in Neelankarai under the Neelankarai SRO is Rs 2,200 per sq.ft, which is higher than the current value of Chinna Neelankarai Kuppam South Street.

What are the stamp duty and registration fees for properties 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 can I find the Sub Registrar Office for Chinna Neelankarai Kuppam South Street?

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