Guideline Value for MIDDLE 1st CROSS STREET

MIDDLE 1st CROSS STREET guideline value

The current guideline value of MIDDLE 1st CROSS STREET is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village under the Neelankarai SRO, classified as Residential Class II Type - III.

How the guideline value of MIDDLE 1st CROSS STREET has changed

Over the years, the guideline value for MIDDLE 1st CROSS STREET has experienced several revisions. The 2007 revision recorded a guideline value of Rs 300 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, this value decreased to Rs 1,005 per sq.ft in 2017. The 2023 revision raised the value to Rs 1,500 per sq.ft, and the most recent 2024 revision has set it at Rs 1,700 per sq.ft.

The changes between these revisions show a +400% increase from 2007 to 2012, followed by a -33% decrease from 2012 to 2017. The value then saw a +49% increase from 2017 to 2023, and a +13% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by +467%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value is Rs 1,700 per sq.ft, which aligns with the 2024 figure for MIDDLE 1st CROSS STREET.

• MIDDLE 2nd CROSS STREET: Rs 1,700 per sq.ft (2024)
• Middle Street: Rs 1,700 per sq.ft (2024)
• M.G.R.Street: Rs 2,200 per sq.ft (2024)
• M/S Fisher Echo Mas India Ltd.,: Rs 2,200 per sq.ft (2024)
• M/S Pure Metalic: Rs 2,200 per sq.ft (2024)
• Mayana Salai: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in MIDDLE 1st CROSS STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. 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 MIDDLE 1st CROSS STREET?

The Sub Registrar Office that covers MIDDLE 1st CROSS STREET 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 Karapakkam

The guideline value is a crucial factor in the registration process of property transactions in Karapakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps to establish the sale price, and it is essential for both buyers and sellers to be aware of these values to avoid any discrepancies during registration. The guideline value reflects the official valuation set by the Registration Department, which is crucial for legal and financial purposes.

Frequently asked questions

What is the current guideline value of MIDDLE 1st CROSS STREET?

The current guideline value of MIDDLE 1st CROSS STREET is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, showing an overall increase of +467%.

What is the land classification of MIDDLE 1st CROSS STREET?

MIDDLE 1st CROSS STREET is classified as Residential Class II Type - III under the Neelankarai SRO.

Where can I find the Sub Registrar Office for MIDDLE 1st CROSS STREET?

The Sub Registrar Office for MIDDLE 1st CROSS STREET 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 MIDDLE 1st CROSS STREET?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 17,00,000 would incur a stamp duty of Rs 1,19,000 at 7%.