Guideline Value for SOWDEESHWARI NAGAR ANNEX (CREEK STREET )

Sowdeeshwari Nagar Annex (Creek Street ) guideline value

The current guideline value of Sowdeeshwari Nagar Annex (Creek Street) is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sowdeeshwari Nagar Annex (Creek Street ) has changed

The guideline value for Sowdeeshwari Nagar Annex (Creek Street) has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 3,000 per sq.ft. The most recent revision in 2024 increased the guideline value to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam village, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for Sowdeeshwari Nagar Annex (Creek Street).

• Sowdeeshwari Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Sowdeeshwari Nagar: Rs 3,300 per sq.ft (2024)
• Sowdeeshwari Nagar 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Sowdeeshwari Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Sowdeeshwari Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sowdeeshwari Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sowdeeshwari Nagar Annex (Creek Street )

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sowdeeshwari Nagar Annex (Creek Street )?

The Sub Registrar Office that covers Sowdeeshwari Nagar Annex (Creek Street) 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 Okkiyamthuraipakkam

The guideline value plays a crucial role during property registration in Okkiyamthuraipakkam. It serves as the baseline for calculating the stamp duty and registration fees, ensuring that both buyers and sellers adhere to the official valuation set by the government.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions, protecting both parties involved.

Frequently asked questions

What is the current guideline value of Sowdeeshwari Nagar Annex (Creek Street)?

The current guideline value of Sowdeeshwari Nagar Annex (Creek Street) 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 classification of land in Sowdeeshwari Nagar Annex (Creek Street)?

The land classification for Sowdeeshwari Nagar Annex (Creek Street) is Residential Class II Type - I.

What is the registration office for properties in this area?

The registration office for Sowdeeshwari Nagar Annex (Creek Street) is the Neelankarai Sub Registrar Office, 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 Sowdeeshwari Nagar Annex (Creek Street)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,31,000 at 7%.