Guideline Value for Community Hall Street

Community Hall Street guideline value

The current guideline value of Community Hall 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 Community Hall Street has changed

The guideline value for Community Hall Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision then increased the value to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,700 per sq.ft.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and by 13% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 13%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value is Rs 2,200 per sq.ft, making the guideline value of Community Hall Street below this median.

• Clri Ngaar Saraswathi Nagar West Extension: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 9th Street: Rs 2,800 per sq.ft (2024)
• CLRI Nagar 8th Street: 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)

Stamp duty and registration fee for property in Community Hall Street

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

Which Sub Registrar Office covers Community Hall Street?

The Sub Registrar Office that covers Community Hall 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 is a critical factor in the registration process for property transactions in Neelankarai. It is used to determine the amount of stamp duty and registration fees that must be paid when a property is bought or sold.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration reflects the actual value of the property being transferred.

Frequently asked questions

What is the current guideline value of Community Hall Street?

The current guideline value of Community Hall 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 back 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 Community Hall Street?

Community Hall Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for a property in Community Hall Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 17,00,000, the total fees would be Rs 1,53,000.

Which office handles registrations for Community Hall Street?

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