Guideline Value for HALIS GARNET STREET

Halis Garnet Street guideline value

The current guideline value for Halis Garnet Street, located in Okkiyamthuraipakkam village under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Halis Garnet Street has changed

The guideline value for Halis Garnet Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. This figure decreased significantly to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a substantial increase of 49%, bringing the value up to Rs 2,500 per sq.ft. The most recent revision in 2024 saw a further increase of 12%, resulting in the current guideline value of Rs 2,800 per sq.ft.

It is important to note that there are no figures available for Halis Garnet Street in the revisions from the years 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 12%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, indicating that Halis Garnet Street's 2024 value is below this median.

• Guindy Engineers Colony: Rs 3,300 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 Halis Garnet Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty is charged at 7%, which totals Rs 1,96,000, and the registration fee is charged at 2%, amounting to Rs 56,000. Together, the total cost for stamp duty and registration fee would be Rs 2,52,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Halis Garnet Street?

The Sub Registrar Office that covers Halis Garnet Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the property registration process in Okkiyamthuraipakkam. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

Understanding the guideline value is essential for both buyers and sellers, as it impacts the overall cost of property transactions. It is advisable to check the latest guideline values before proceeding with any property dealings to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value for Halis Garnet Street?

The current guideline value for Halis Garnet Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value for Halis Garnet Street has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value for streets in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, which is higher than the current value of Halis Garnet Street.

What are the stamp duty and registration fees for Halis Garnet Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees amount to Rs 2,52,000, based on the guideline value of Rs 28,00,000.

Where is the Sub Registrar Office for Halis Garnet Street located?

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