Guideline Value for SHOLINGANALLUR CO.OP. MEHA NAGAR/GANDHI NAGAR CO.OP.SOCIETY

Sholinganallur Co.Op. Meha Nagar/Gandhi Nagar Co.Op.Society guideline value

The current guideline value for Sholinganallur Co.Op. Meha Nagar/Gandhi Nagar Co.Op.Society is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sholinganallur Co.Op. Meha Nagar/Gandhi Nagar Co.Op.Society has changed

The guideline value for Sholinganallur Co.Op. Meha Nagar/Gandhi Nagar Co.Op.Society has seen several revisions over the years. The 2012 revision set the guideline value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest 2024 revision raised it further to Rs 2,800 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, from the 2017 revision to the 2023 revision, there was a significant increase of 49%. The 2023 to 2024 revision saw a rise of 12%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 12%.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for Sholinganallur Co.Op. Meha Nagar/Gandhi Nagar Co.Op.Society is above this median.

• Sheela Mohan Garden: Rs 1,000 per sq.ft (2024)
• Simrise Pvt. Ltd.,Co.I: Rs 3,300 per sq.ft (2024)
• Simrise Pvt. Ltd., Co - II: Rs 3,300 per sq.ft (2024)
• Sity Babu Garden: Rs 1,100 per sq.ft (2024)
• Senthil Kumar Garden: Rs 1,700 per sq.ft (2024)
• Semmencherry Nukkam Palayam Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sholinganallur Co.Op. Meha Nagar/Gandhi Nagar Co.Op.Society

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total cost for stamp duty and registration fee would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sholinganallur Co.Op. Meha Nagar/Gandhi Nagar Co.Op.Society?

The Sub Registrar Office that covers Sholinganallur Co.Op. Meha Nagar/Gandhi Nagar Co.Op.Society 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 Chemmancheri

The guideline value is a crucial factor in the registration process when buying or selling property in Chemmancheri. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Sholinganallur Co.Op. Meha Nagar/Gandhi Nagar Co.Op.Society?

The current guideline value for Sholinganallur Co.Op. Meha Nagar/Gandhi Nagar Co.Op.Society is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, marking a 12% increase. It was Rs 1,675 per sq.ft in 2017, which represents a 49% increase to the 2023 value.

What is the land classification for this area?

The land classification for Sholinganallur Co.Op. Meha Nagar/Gandhi Nagar Co.Op.Society is Residential Class II Type - I.

Where can I find the Neelankarai Sub Registrar Office?

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

How is stamp duty calculated in Chemmancheri?

Stamp duty in Chemmancheri is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value.