Guideline Value for POLARIS IT CO.,

Polaris It Co., guideline value

The current guideline value for Polaris It Co., located in Karapakkam village under the Neelankarai SRO is Rs 3,000 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class II Type - I land classification.

How the guideline value of Polaris It Co., has changed

The guideline value for Polaris It Co. has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. The next revision in 2023 saw an increase to Rs 2,500 per sq.ft, and the most recent revision in 2024 raised the value to Rs 3,000 per sq.ft, reflecting a 20% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 20%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value for the area is Rs 1,700 per sq.ft, placing the 2024 figure for Polaris It Co. above this median.

• Ponnusamy Garden: Rs 1,100 per sq.ft (2024)
• P.E.Shankar Garden: Rs 2,200 per sq.ft (2024)
• Perumal Street: Rs 1,700 per sq.ft (2024)
• Periyar Street: Rs 1,100 per sq.ft (2024)
• Periyapalayathamman Koil Street: Rs 1,100 per sq.ft (2024)
• PERIYAPALAYATHAMMAN KOIL 1st STREET: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Polaris It Co.,

For a 1,000 sq.ft plot at the current guideline value of Rs 3,000 per sq.ft, the total guideline value amounts to Rs 30,00,000. The stamp duty at 7% would be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, totaling Rs 2,70,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Polaris It Co.,?

The Sub Registrar Office that covers Polaris It Co. 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 in the registration process when buying or selling property in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Polaris It Co.,?

The current guideline value for Polaris It Co. is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Polaris It Co. has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 3,000 per sq.ft in 2024.

What is the land classification for Polaris It Co.,?

Polaris It Co. is classified under Residential Class II Type - I land classification.

What are the stamp duty and registration fees for property in Polaris It Co.,?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,70,000, which includes Rs 2,10,000 for stamp duty and Rs 60,000 for registration fees.

Where is the Sub Registrar Office for Polaris It Co., located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.