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Guideline Value

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Guideline Value for SOWDEESWARI NAGAR 1ST CROSS STREET

₹3900/sq.ft.

The guideline value for Sowdeeswari Nagar 1st Cross Street in Okkiyamthuraipakkam village (Neelankarai SRO, Chennai zone) is Rs 3900 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Okkiyamthuraipakkam

Village

Neelankarai

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹3900 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sowdeeswari Nagar 1st Cross Street

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Sowdeeswari Nagar 1st Cross Street guideline value

The current guideline value of Sowdeeswari Nagar 1st Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Sowdeeswari Nagar 1st Cross Street has changed

The guideline value for Sowdeeswari Nagar 1st Cross Street has undergone several revisions over the years. In the 2017 revision, the value was set at Rs 2,345 per sq.ft. This increased to Rs 3,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 saw the guideline value rise to Rs 3,900 per sq.ft, reflecting an increase of 11% from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 66%.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam village, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, which indicates that the 2024 figure for Sowdeeswari Nagar 1st Cross Street is above the median.

Stamp duty and registration fee for property in Sowdeeswari Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Sowdeeswari Nagar 1st Cross Street?

The Sub Registrar Office that covers Sowdeeswari Nagar 1st Cross 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Sowdeeswari Nagar 1st Cross Street?

The current guideline value of Sowdeeswari Nagar 1st Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023, and then to Rs 3,900 per sq.ft in 2024, representing a total increase of 66% from 2017 to 2024.

What is the land classification for Sowdeeswari Nagar 1st Cross Street?

Sowdeeswari Nagar 1st Cross Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Sowdeeswari Nagar 1st Cross 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 the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,73,000.