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Guideline Value

Corporate

Guideline Value for Estate Road (Canal West)

₹5500/sq.ft.

The guideline value for Estate Road (canal West) in Neelankarai village (Neelankarai SRO, Chennai zone) is Rs 5500 per sq.ft, effective 1 July 2024. It was Rs 5000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Neelankarai

Village

Neelankarai

SRO

Residential Special Type - III
History
Period Guideline Value
From 1-7-2024 ₹5500 /sq.ft.
From 1-4-2023 ₹5000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3350 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹250 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹134 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹123 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Estate Road (canal West)

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Estate Road (Canal West) guideline value

The current guideline value for Estate Road (Canal West) in Neelankarai 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 Estate Road (Canal West) has changed

The guideline value for Estate Road (Canal West) has seen significant changes over the years. In 2002, the value was Rs 123 per sq.ft. This increased to Rs 134 per sq.ft in 2003, marking a 9% rise. The value then jumped dramatically to Rs 250 per sq.ft in 2007, which was an increase of 87%. Following this, the value surged to Rs 5,000 per sq.ft in 2012, reflecting a substantial 1,900% increase. However, it dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, before reaching the current figure of Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 4,372%. There are no figures available for revisions in years not listed in the register for this street.

Guideline values in Neelankarai

In Neelankarai village, 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 in this area is Rs 2,200 per sq.ft, placing the 2024 guideline value of Estate Road (Canal West) above this median.

Stamp duty and registration fee for property in Estate Road (Canal West)

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, bringing the total to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Estate Road (Canal West)?

The Sub Registrar Office covering Estate Road (Canal West) 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 details.

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

The guideline value is a critical factor in property transactions in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value can influence the overall cost of the transaction.

When registering 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 government receives the appropriate revenue based on the property's value at the time of the transaction.

Frequently asked questions

What is the current guideline value of Estate Road (Canal West)?

The current guideline value of Estate Road (Canal West) 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 significantly, from Rs 123 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 4,372% over the years.

What is the land classification for Estate Road (Canal West)?

Estate Road (Canal West) is classified as Residential Special Type - III, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for a property on Estate Road (Canal West)?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where is the Sub Registrar Office for Estate Road (Canal West) located?

The Sub Registrar Office for Estate Road (Canal West) is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.