Guideline Value for MIDDLE 2nd CROSS STREET

MIDDLE 2nd CROSS STREET guideline value

The current guideline value of MIDDLE 2nd 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 2nd CROSS STREET has changed

The guideline value for MIDDLE 2nd CROSS STREET has experienced several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it saw a decrease to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023, culminating in the current rate of Rs 1,700 per sq.ft from the 2024 revision.

Notably, the changes between revisions show a +400% increase from 2007 to 2012, followed by a -33% decrease from 2012 to 2017. From 2017 to 2023, there was a +49% increase, and from 2023 to 2024, the increase is +13%. Overall, from 2007 to 2024, the guideline value has increased by +467%.

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 value is Rs 1,700 per sq.ft, which aligns with the guideline value of MIDDLE 2nd CROSS STREET.

• MIDDLE 1st 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 2nd 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 would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, the total cost would be Rs 1,53,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers MIDDLE 2nd CROSS STREET?

The Sub Registrar Office that covers MIDDLE 2nd 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 during property registration in Karapakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers should be aware that the guideline value is often used as a benchmark for the transaction value.

When selling a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to be informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of MIDDLE 2nd CROSS STREET?

The current guideline value of MIDDLE 2nd 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, with various increases and decreases in between.

What is the registration office for MIDDLE 2nd CROSS STREET?

The registration office for MIDDLE 2nd 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.

How is the stamp duty calculated for properties in this area?

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

What other streets have the same guideline value in Karapakkam?

Other streets in Karapakkam with the same guideline value of Rs 1,700 per sq.ft include MIDDLE 1st CROSS STREET and Middle Street.