Guideline Value for GUINDY ENGINEERS COLONY

Guindy Engineers Colony guideline value

The current guideline value of Guindy Engineers Colony is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Guindy Engineers Colony has changed

The guideline value for Guindy Engineers Colony has undergone several revisions over the years. In 2003, the guideline value was Rs 166 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2007. The value then rose dramatically by 500% to Rs 3,000 per sq.ft in 2012. However, it saw a decrease of 33% to Rs 2,010 per sq.ft in 2017. Following this, the guideline value increased by 49% to Rs 3,000 per sq.ft in 2023, and most recently, it has increased by 10% to Rs 3,300 per sq.ft in 2024.

The register has no figure for this street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 1888%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Guindy Engineers Colony.

• Halis Garnet Street: Rs 2,800 per sq.ft (2024)
• High Court Employees City Judicial Officers Co-Op., Housing Soc.,: Rs 6,100 per sq.ft (2024)
• Indira Encalve 1st Street: Rs 3,900 per sq.ft (2024)
• Indira Encalve 2nd Street: Rs 3,900 per sq.ft (2024)
• Indira Encalve 3rd Street: Rs 3,900 per sq.ft (2024)
• Indira Encalve 5th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Guindy Engineers Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Guindy Engineers Colony?

The Sub Registrar Office that covers Guindy Engineers Colony 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 property transactions in Okkiyamthuraipakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value during negotiations, as it affects the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. It is essential for both parties to be aware of the current guideline value to ensure a smooth registration process.

Frequently asked questions

What is the current guideline value of Guindy Engineers Colony?

The current guideline value of Guindy Engineers Colony is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 166 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, showing significant increases and a few decreases at various points in time.

What is the land classification for Guindy Engineers Colony?

Guindy Engineers Colony is classified as Residential Class II Type - I according to the local guidelines.

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.

How is the stamp duty calculated for properties in Guindy Engineers Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.