Guideline Value for PARADISE FARM LAND

Paradise Farm Land guideline value

The current guideline value of Paradise Farm Land is Rs 2,800 per sq.ft, effective from 1 July 2024. This property is located in Sholinganallur - 1 village under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of Paradise Farm Land has changed

The guideline value for Paradise Farm Land has seen significant changes over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, and the latest 2024 revision increased it to Rs 2,800 per sq.ft, reflecting a change of +67% from the previous figure.

There are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street. The only recorded values are from the 2017 and 2024 revisions.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. Paradise Farm Land's guideline value of Rs 2,800 per sq.ft is above the median value of Rs 2,200 per sq.ft for this area.

• Pappathiamman Street (Grama Nedunchalai 6th Cross Street): Rs 2,200 per sq.ft (2024)
• Parameshwaran Nagar 1st Street (Near Tank): Rs 2,200 per sq.ft (2024)
• Parameshwaran Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Parameshwaran Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Parameswaran Nagar & Avenue: Rs 2,200 per sq.ft (2024)
• Parameshwaran Nagar Mayana Pathai Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Paradise Farm Land

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Paradise Farm Land?

The Sub Registrar Office that covers Paradise Farm Land 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 Sholinganallur - 1

The guideline value is a critical factor during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair price, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Paradise Farm Land?

The current guideline value of Paradise Farm Land is Rs 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, which set the value at Rs 1,675 per sq.ft, the guideline value increased to Rs 2,800 per sq.ft in 2024, representing a change of +67%.

What are the guideline values of other streets in Sholinganallur - 1?

Other streets in Sholinganallur - 1 have a guideline value of Rs 2,200 per sq.ft in 2024, which is below the current value of Paradise Farm Land.

How is stamp duty calculated for Paradise Farm Land?

Stamp duty for Paradise Farm Land is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 1,96,000.

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.