Guideline Value for EGRET PART

Egret Part guideline value

The current guideline value of Egret Part in Okkiyamthuraipakkam village, under the Neelankarai SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Egret Part has changed

The guideline value for Egret Part has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,679 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, followed by a decrease to Rs 3,350 per sq.ft in 2017. The value then rose sharply to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision.

Specifically, the changes between revisions are notable: from 2007 to 2012, the value increased by 198%; from 2012 to 2017, it decreased by 33%; from 2017 to 2023, it increased by 49%; and from 2023 to 2024, there was a 10% rise. Overall, from 2007 to 2024, the guideline value has increased by 228%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Egret Part's 2024 figure above this median.

• Easwaran Koil Street: Rs 3,300 per sq.ft (2024)
• Easwaran Koil Main Salai 2 Nd Cross Street: Rs 3,300 per sq.ft (2024)
• Easwaran Koil Main Salai 1 St Cross Street: Rs 3,300 per sq.ft (2024)
• Elim Nagar (Near Omr): Rs 4,400 per sq.ft (2024)
• Ellaiamman Nagar: Rs 1,100 per sq.ft (2024)
• Fortts Avenue: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Egret Part

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, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Egret Part?

The Sub Registrar Office that covers Egret Part 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 Okkiyamthuraipakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration. This ensures that the transaction is transparent and adheres to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Egret Part?

The current guideline value of Egret Part 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 from Rs 1,679 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, with various increases and a decrease noted in the intervening years.

What are the stamp duty rates for properties in Egret Part?

The stamp duty rate for properties in Egret Part is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Neelankarai Sub Registrar Office?

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

What is the land classification of Egret Part?

Egret Part is classified as Residential Special Type - III, indicating its suitability for residential purposes.