Guideline Value for SARDARPATEL ROAD

Sardarpatel Road guideline value

The current guideline value of Sardarpatel Road is Rs 1,700 per sq.ft, effective from 1 July 2024. This road is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Sardarpatel Road has changed

The guideline value for Sardarpatel Road has seen several revisions over the years. In 2003, the value was Rs 140 per sq.ft, which increased to Rs 414 per sq.ft in 2007. Following that, the value rose significantly to Rs 1,500 per sq.ft in 2012, before dropping to Rs 1,005 per sq.ft in 2017. The subsequent revision in 2023 set the value at Rs 1,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 1,700 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2023 to 2024 reflects a 13% rise. The most significant change occurred between 2007 and 2012, with an increase of 262%. Overall, from 2003 to 2024, the guideline value has increased by 1114%. The register has no figure for the year 2002 for this street.

Guideline values in Chemmancheri

In Chemmancheri village, there are a total of 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, which is the same as the current value for Sardarpatel Road.

• Sarawathi Garden: Rs 3,300 per sq.ft (2024)
• Sarathadevi Garden: Rs 1,100 per sq.ft (2024)
• Savaithiri Garden: Rs 3,300 per sq.ft (2024)
• Saviour Garden: Rs 1,100 per sq.ft (2024)
• Sankarraman Garden: Rs 1,100 per sq.ft (2024)
• Samuel / Surendran Garden: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sardarpatel Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty, charged at 7%, would be Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, these fees total Rs 1,53,000. It is important to note that 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 Sardarpatel Road?

The Sub Registrar Office that covers Sardarpatel Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chemmancheri. It serves as a benchmark for determining the amount of stamp duty and registration fees payable at the time of property registration.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Sardarpatel Road?

The current guideline value of Sardarpatel Road is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 140 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 1114% over the years.

What are the stamp duty rates for property transactions?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher. This is applicable when registering property in Sardarpatel Road.

Which Sub Registrar Office should I contact for Sardarpatel Road?

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

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees payable during property transactions. It acts as a standard measure for assessing property value in the registration process.