Guideline Value for HINDUSTAN ENGINEERING TRAINING CENTRE

Hindustan Engineering Training Centre guideline value

The current guideline value for Hindustan Engineering Training Centre is Rs 3,000 per sq.ft, effective from 1 July 2024. This property is located in Karapakkam village, under the Neelankarai SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Hindustan Engineering Training Centre has changed

The guideline value for Hindustan Engineering Training Centre has undergone several revisions over the years. Starting from the 2012 revision, the value was Rs 2,500 per sq.ft. This figure remained until the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft, marking a drop of 33%. However, the subsequent revisions showed a significant increase, with the 2023 revision raising the value to Rs 2,500 per sq.ft, and the latest 2024 revision increasing it further to Rs 3,000 per sq.ft, a rise of 20% from 2023.

In summary, the guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 3,000 per sq.ft in 2024, representing an overall increase of 20% since 2012. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing the Hindustan Engineering Training Centre's 2024 figure above this median.

• Hindusdan College: Rs 3,000 per sq.ft (2024)
• High School Road: Rs 1,000 per sq.ft (2024)
• INDIRA GANDHI 1st STREET: Rs 2,200 per sq.ft (2024)
• INDIRA GANDHI 1st STREET 2nd CROSS: Rs 2,200 per sq.ft (2024)
• INDIRA GANDHI 1st STREET 3nd CROSS: Rs 2,200 per sq.ft (2024)
• INDIRA GANDHI 2nd STREET: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Hindustan Engineering Training Centre

For a 1,000 sq.ft plot at the current guideline value of Rs 3,000 per sq.ft, the total guideline value would be Rs 30,00,000. The stamp duty at 7% would amount to Rs 2,10,000, while the registration fee at 2% would be Rs 60,000, bringing the total fees together to Rs 2,70,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Hindustan Engineering Training Centre?

The Hindustan Engineering Training Centre falls under 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 Karapakkam

The guideline value is a critical factor in property transactions in Karapakkam, as it determines the amount of stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When buying or selling property, the guideline value serves as a benchmark for the transaction. It is essential for both parties to consider this value to avoid any discrepancies during the registration process, as the fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value for Hindustan Engineering Training Centre?

The current guideline value for Hindustan Engineering Training Centre is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 3,000 per sq.ft in 2024.

What is the land classification for Hindustan Engineering Training Centre?

The land classification for Hindustan Engineering Training Centre is Residential Class II Type - I.

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 stamp duty calculated for properties in Karapakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 30,00,000, the stamp duty would be Rs 2,10,000 at 7%.