Guideline Value for ORIGIN PHASE-I

Origin Phase-I guideline value

The current guideline value for Origin Phase-I in Chemmancheri village under the Neelankarai SRO is Rs 4,900 per sq.ft, effective from 1 July 2024. This area is classified as Mixed Type - I.

How the guideline value of Origin Phase-I has changed

The guideline value for Origin Phase-I has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 4,900 per sq.ft, which is an increase of 11% from the 2023 revision of Rs 4,400 per sq.ft. Prior to these revisions, the register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

In summary, the 2023 revision was Rs 4,400 per sq.ft, and the 2024 revision is Rs 4,900 per sq.ft. The increase reflects the changes in the guideline value over this period.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO, with a 2024 guideline value range from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Origin Phase-I's current value above this median.

• Old Mahabalipuram Road (Rajiv Gandhi Salai): Rs 6,600 per sq.ft (2024)
• Old Mahabalipuram Road: Rs 6,600 per sq.ft (2024)
• Nukkam Palayam Road: Rs 3,300 per sq.ft (2024)
• Palani Garden: Rs 1,000 per sq.ft (2024)
• Pallavaraja Garden: Rs 3,300 per sq.ft (2024)
• Panchayat Office Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Origin Phase-I

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, making the total Rs 4,41,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Origin Phase-I?

The Sub Registrar Office that covers Origin Phase-I 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 Chemmancheri

The guideline value plays a crucial role in the registration process when buying or selling property in Chemmancheri. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction reflects the official value set by the government.

When you register a property, the guideline value is used to assess the applicable charges. Buyers and sellers must be aware that the duty is charged based on the higher of the guideline value or the actual sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Origin Phase-I?

The current guideline value for Origin Phase-I in Chemmancheri village is Rs 4,900 per sq.ft, effective from 1 July 2024.

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by 11% from Rs 4,400 per sq.ft in 2023 to Rs 4,900 per sq.ft in 2024.

What is the land classification for Origin Phase-I?

Origin Phase-I is classified as Mixed Type - I, which reflects the nature of land use in the area.

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 Chemmancheri?

Stamp duty for properties in Chemmancheri is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,00,000, the stamp duty would be calculated at 7% of that amount.