Guideline Value

Corporate

Guideline Value for PRIME PHASE-II

₹5500/sq.ft.

The guideline value for Prime Phase-ii in Okkiyamthuraipakkam village (Neelankarai SRO, Chennai zone) is Rs 5500 per sq.ft, effective 1 July 2024. It was Rs 5000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Okkiyamthuraipakkam

Village

Neelankarai

SRO

Residential Special Type - III
History
Period Guideline Value
From 1-7-2024 ₹5500 /sq.ft.
From 1-4-2023 ₹5000 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
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]

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Prime Phase-II guideline value

The current guideline value of Prime Phase-II in Okkiyamthuraipakkam village is Rs 5,500 per sq.ft, effective from 1 July 2024. This area falls under the Neelankarai SRO and is classified as Residential Special Type - III.

How the guideline value of Prime Phase-II has changed

The guideline value for Prime Phase-II has seen several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 5,000 per sq.ft, and with the latest revision in 2024, it increased to Rs 5,500 per sq.ft, reflecting a change of +10%.

This increase marks a significant adjustment in the value, aligning with the overall trend in the area. The 2024 figure of Rs 5,500 per sq.ft is above the median guideline value of Rs 3,300 per sq.ft for the 453 streets in Okkiyamthuraipakkam, indicating a higher valuation for this particular street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, the guideline values range from Rs 1,100 to Rs 8,800 per sq.ft as of 2024, with a median value of Rs 3,300 per sq.ft. Prime Phase-II's 2024 figure of Rs 5,500 per sq.ft is above this median. Below are the guideline values for other streets in Okkiyamthuraipakkam:

Stamp duty and registration fee for property in Prime Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty, charged at 7%, would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prime Phase-II?

The Sub Registrar Office that covers Prime Phase-II 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 details.

How the guideline value is used when you buy or sell in Okkiyamthuraipakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is in compliance with the regulations set by the Registration Department.

When a property is registered, the guideline value is assessed to calculate the applicable fees. This ensures that the government receives the correct amount of revenue based on the property's valuation, which is essential for maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Prime Phase-II?

The current guideline value of Prime Phase-II is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Prime Phase-II has changed from Rs 5,000 per sq.ft in 2023 to Rs 5,500 per sq.ft in 2024, representing a +10% increase. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft as of 2024. Prime Phase-II's guideline value is above this median, indicating a higher valuation for this street.

What are the stamp duty and registration fees for properties in Prime Phase-II?

For a property valued at Rs 55,00,000 in Prime Phase-II, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

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. This office handles the registration of properties in the Prime Phase-II area.