Guideline Value for SPIC GEL CO

Spic Gel Co guideline value

The current guideline value for Spic Gel Co is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Chemmancheri village, under the Neelankarai SRO, and falls under the Residential Class I Type - II land classification.

How the guideline value of Spic Gel Co has changed

The guideline value for Spic Gel Co has seen 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. Following this, the 2023 revision increased the value back to Rs 3,000 per sq.ft, and the most recent 2024 revision has raised it further to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

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 Spic Gel Co is above this median.

• Sri Alamelumangapuram: Rs 1,700 per sq.ft (2024)
• South Border Lane Pattai Salai: Rs 1,100 per sq.ft (2024)
• Sri Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Sri Ganapathi Nagar Colony: Rs 3,300 per sq.ft (2024)
• Sity Babu Garden: Rs 1,100 per sq.ft (2024)
• Sri Kumaran Avenue: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Spic Gel Co

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 fees together 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Spic Gel Co?

The Sub Registrar Office that covers Spic Gel Co 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 property transactions in Chemmancheri. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per the government’s assessment.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. Buyers should be aware of these costs as they can significantly impact the overall expenditure involved in the transaction.

Frequently asked questions

What is the current guideline value for Spic Gel Co?

The current guideline value for Spic Gel Co 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 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 in 2023, and finally to Rs 3,300 in 2024.

What are the stamp duty and registration fees for Spic Gel Co?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Chemmancheri?

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

What is the median guideline value in Chemmancheri?

The median guideline value in Chemmancheri is Rs 1,700 per sq.ft, while the guideline value for Spic Gel Co is above this median.