Guideline Value for SIMRISE PVT. LTD.,CO.I

Simrise Pvt. Ltd.,Co.I guideline value

The current guideline value of Simrise Pvt. Ltd., Co.I is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Simrise Pvt. Ltd.,Co.I has changed

Over the years, the guideline value of Simrise Pvt. Ltd., Co.I has seen several revisions. The 2012 revision set the guideline value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft in the 2024 revision. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a decline of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value for the village is Rs 1,700 per sq.ft, placing the 2024 figure for Simrise Pvt. Ltd., Co.I above this median.

• Simrise Pvt. Ltd., Co - II: Rs 3,300 per sq.ft (2024)
• Sity Babu Garden: Rs 1,100 per sq.ft (2024)
• Sholinganallur Co.Op. Meha Nagar/Gandhi Nagar Co.Op.Society: Rs 2,800 per sq.ft (2024)
• Sheela Mohan Garden: Rs 1,000 per sq.ft (2024)
• South Border Lane Pattai Salai: Rs 1,100 per sq.ft (2024)
• Senthil Kumar Garden: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Simrise Pvt. Ltd.,Co.I

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, calculated at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. 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 Simrise Pvt. Ltd.,Co.I?

The Sub Registrar Office that covers Simrise Pvt. Ltd., Co.I 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 plays a crucial role in the registration process when buying or selling property in Chemmancheri. It serves as a benchmark for determining 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 appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Simrise Pvt. Ltd.,Co.I?

The current guideline value for Simrise Pvt. Ltd., Co.I is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Simrise Pvt. Ltd.,Co.I?

Simrise Pvt. Ltd., Co.I is classified as Residential Class I Type - II.

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 for properties in Chemmancheri?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.