Guideline Value for S.A.MICHEALRAJ THOTTAM

S.A.Michealraj Thottam guideline value

The current guideline value of S.A.Michealraj Thottam is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, and is classified as Residential Class IV Type - I.

How the guideline value of S.A.Michealraj Thottam has changed

In the 2017 revision, the guideline value was Rs 1,005 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, marking a significant rise of 49% over the six years. The latest revision in 2024 saw the guideline value increase further to Rs 1,700 per sq.ft, which is a 13% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 69%. The register has no figure for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with 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, making the current value of S.A.Michealraj Thottam below that median.

• Sampath Thottam: Rs 1,700 per sq.ft (2024)
• Samuthra Dwaraga Salai: Rs 3,300 per sq.ft (2024)
• Sankamam Layout: Rs 2,800 per sq.ft (2024)
• Santhosh Garden: Rs 3,300 per sq.ft (2024)
• Santhosh Garden, Vijaya Nagar, Sai Illam: Rs 3,300 per sq.ft (2024)
• Santhosh Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in S.A.Michealraj Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. Duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers S.A.Michealraj Thottam?

The Sub Registrar Office that covers S.A.Michealraj Thottam 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 crucial factor during the registration of property transactions in Sholinganallur - 1. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of S.A.Michealraj Thottam?

The current guideline value of S.A.Michealraj Thottam is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value has increased by 69%, rising from Rs 1,005 per sq.ft to Rs 1,700 per sq.ft.

What is the median guideline value for streets in Sholinganallur - 1?

The median guideline value for streets in Sholinganallur - 1 is Rs 2,200 per sq.ft, which is higher than the current value of S.A.Michealraj Thottam.

What are the stamp duty and registration fees for S.A.Michealraj Thottam?

The stamp duty is 7% and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,53,000.

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.