Guideline Value for OLD MAHABALIPURAM ROAD- GOVT.HIGHER SECONDARY SCHOOL CROSS STREET

Old Mahabalipuram Road- Govt.Higher Secondary School Cross Street guideline value

The current guideline value for Old Mahabalipuram Road- Govt.Higher Secondary School Cross Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Old Mahabalipuram Road- Govt.Higher Secondary School Cross Street has changed

The guideline value for Old Mahabalipuram Road- Govt.Higher Secondary School Cross Street has undergone several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 8,000 per sq.ft. The most recent revision in 2024 increased this value to Rs 8,800 per sq.ft, reflecting a change of +10% from the previous year.

As a result, the current guideline value of Rs 8,800 per sq.ft is significantly above the median value of Rs 2,200 per sq.ft for the 754 streets in Sholinganallur - 1 under the Neelankarai SRO. The increase from 2023 to 2024 marks a notable adjustment in the valuation of this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The guideline value for Old Mahabalipuram Road- Govt.Higher Secondary School Cross Street is above the median of Rs 2,200 per sq.ft. Below are other streets in Sholinganallur - 1:

• Old Mahabalipuram Road Cross Street: Rs 8,800 per sq.ft (2024)
• Old Mahabalipuram Road 1st Cross Street: Rs 8,800 per sq.ft (2024)
• Old Mahabalipuram Road/Rajiv Gandhi Salai: Rs 8,800 per sq.ft (2024)
• Nusivar Cites Park: Rs 2,800 per sq.ft (2024)
• PADASALAI 1st STREET (NEAR KUPPAM): Rs 1,700 per sq.ft (2024)
• PADASALAI 2nd STREET: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Old Mahabalipuram Road- Govt.Higher Secondary School Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total charges to Rs 7,92,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Old Mahabalipuram Road- Govt.Higher Secondary School Cross Street?

The Sub Registrar Office that covers Old Mahabalipuram Road- Govt.Higher Secondary School Cross Street is the Neelankarai Sub Registrar Office. The address is 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor when registering property transactions in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees applicable on property sales, ensuring that these costs are calculated based on a standardized value.

When buyers and sellers engage in property transactions, the guideline value helps to ensure transparency and fairness in the registration process. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value for Old Mahabalipuram Road- Govt.Higher Secondary School Cross Street?

The current guideline value for Old Mahabalipuram Road- Govt.Higher Secondary School Cross Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 per sq.ft in 2023 to Rs 8,800 per sq.ft in 2024, marking a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for this street?

The land classification for Old Mahabalipuram Road- Govt.Higher Secondary School Cross Street is Commercial Class I Type - III.

Where is the Neelankarai Sub Registrar Office located?

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 this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 88,00,000 would incur a stamp duty of Rs 6,16,000 at a rate of 7%.