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Guideline Value

Corporate

Guideline Value for PALM GARDEN (NEAR ECR)

₹3300/sq.ft.

The guideline value for Palm Garden (near Ecr) in Sholinganallur - 1 village (Neelankarai SRO, Chennai zone) is Rs 3300 per sq.ft, effective 1 July 2024. It was Rs 3000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sholinganallur - 1

Village

Neelankarai

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹3300 /sq.ft.
From 1-4-2023 ₹3000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2010 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Palm Garden (near Ecr)

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Palm Garden (Near Ecr) guideline value

The current guideline value of Palm Garden (Near Ecr) is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in the Sholinganallur - 1 village under the Neelankarai SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Palm Garden (Near Ecr) has changed

Over the years, the guideline value for Palm Garden (Near Ecr) has seen significant changes. The 2017 revision recorded a guideline value of Rs 2,010 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2023 revision. The latest revision in 2024 has further raised the value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, there has been a substantial increase of 64% in the guideline value.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, indicating a steady rise in the guideline value during that period.

Guideline values in Sholinganallur - 1

In the Sholinganallur - 1 village, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Palm Garden (Near Ecr) above this median.

Stamp duty and registration fee for property in Palm Garden (Near Ecr)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Palm Garden (Near Ecr)?

The Palm Garden (Near Ecr) property falls under 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 Sholinganallur - 1

The guideline value plays a crucial role during the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the minimum value of the property, ensuring that the transaction is recorded accurately and fairly.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives due revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Palm Garden (Near Ecr)?

The current guideline value of Palm Garden (Near Ecr) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the median guideline value in Sholinganallur - 1?

The median guideline value in Sholinganallur - 1 is Rs 2,200 per sq.ft, with Palm Garden (Near Ecr) being above this median at Rs 3,300 per sq.ft.

What are the stamp duty rates for property in Palm Garden (Near Ecr)?

The stamp duty rate for property in Palm Garden (Near Ecr) is 7% of the guideline value or sale price, whichever is higher.

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.