Guideline Value for Electronic & Electrical Industrial Develop Plot Estate

Electronic & Electrical Industrial Develop Plot Estate guideline value

The current guideline value for the Electronic & Electrical Industrial Develop Plot Estate is Rs 6,400 per sq.ft, effective from 1 July 2024. This estate is located in Neelankarai village, under the Neelankarai SRO, with a land classification of Industries Type - I.

How the guideline value of Electronic & Electrical Industrial Develop Plot Estate has changed

The guideline value for this estate has seen significant changes over the years. In the 2002 revision, the value was Rs 123 per sq.ft. This increased to Rs 305 per sq.ft in 2003, marking a change of +148%. The value then rose dramatically to Rs 1,500 per sq.ft in 2007, an increase of +392%. Following this, the 2012 revision recorded a decrease to Rs 5,750 per sq.ft, reflecting a change of -33%. In 2017, the value was again revised to Rs 3,852 per sq.ft, which was a +49% increase from the previous revision. The most recent revision in 2023 set the value at Rs 5,750 per sq.ft, and the current value of Rs 6,400 per sq.ft in 2024 represents an increase of +11% from the previous year.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO carrying a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median of Rs 2,200 per sq.ft. The guideline value of Rs 6,400 per sq.ft for the Electronic & Electrical Industrial Develop Plot Estate is above this median.

• Ellaiamman Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Ellaiamman Koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Ellaiamman Koil 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Ellaiamman Koil 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Ellaiamman Koil Street: Rs 2,200 per sq.ft (2024)
• Estate Road 4th Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Electronic & Electrical Industrial Develop Plot Estate

For a 1,000 sq.ft plot at the current rate of Rs 6,400 per sq.ft, the guideline value amounts to Rs 64,00,000. The stamp duty at 7% would be Rs 4,48,000, and the registration fee at 2% would be Rs 1,28,000, totaling Rs 5,76,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Electronic & Electrical Industrial Develop Plot Estate?

The Electronic & Electrical Industrial Develop Plot Estate 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 is a crucial factor when registering property transactions in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the registration office uses the guideline value to assess the applicable duties. This ensures that both buyers and sellers are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value for Electronic & Electrical Industrial Develop Plot Estate?

The current guideline value for the Electronic & Electrical Industrial Develop Plot Estate is Rs 6,400 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 123 per sq.ft in 2002 to Rs 6,400 per sq.ft in 2024, an overall increase of +5103%.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 5,76,000, which includes Rs 4,48,000 for stamp duty and Rs 1,28,000 for registration fees.

Where is the Neelankarai 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.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and location. It is updated periodically to reflect changes in the market.