Guideline Value for Sakthiamman Koil 1st Street

Sakthiamman Koil 1st Street guideline value

The current guideline value of Sakthiamman Koil 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and falls under the Residential Class II Type - III land classification.

How the guideline value of Sakthiamman Koil 1st Street has changed

Over the years, the guideline value of Sakthiamman Koil 1st Street has seen significant changes. The 2002 revision recorded a guideline value of Rs 329 per sq.ft, which increased to Rs 421 per sq.ft in 2003, marking a 28% rise. The value then rose dramatically to Rs 1,000 per sq.ft in 2007, reflecting a 138% increase. In 2012, the guideline value was Rs 2,000 per sq.ft, which was a 100% increase from the previous revision. However, the value decreased to Rs 1,340 per sq.ft in 2017, showing a decline of 33% from 2012. The 2023 revision set the value at Rs 2,000 per sq.ft, which was a substantial increase of 49% from 2017. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, representing a 10% increase from 2023.

There are no figures available for the revisions in years not mentioned above. Overall, from 2002 to 2024, the guideline value has increased by 569%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values for 2024 ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current value of Sakthiamman Koil 1st Street.

• Sakthiamman Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Sakthi Nagar Layout: Rs 1,700 per sq.ft (2024)
• Ruby Complex & Extension: Rs 2,800 per sq.ft (2024)
• Santhi Beach Avenue: Rs 2,800 per sq.ft (2024)
• R.K.M.A. Nagar: Rs 1,700 per sq.ft (2024)
• Saraswathi Nagar: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthiamman Koil 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sakthiamman Koil 1st Street?

The Sub Registrar Office that covers Sakthiamman Koil 1st 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 Neelankarai

The guideline value is an important factor during the registration of property transactions in Neelankarai. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that are applicable. It serves as a benchmark for the value of the property being registered.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. The stamp duty is charged based on the higher of the guideline value or the sale price, ensuring that the registration process reflects the true value of the transaction.

Frequently asked questions

What is the current guideline value of Sakthiamman Koil 1st Street?

The current guideline value of Sakthiamman Koil 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 329 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 569% over the years.

What are the stamp duty and registration fees for property in this street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registration for Sakthiamman Koil 1st Street?

The Neelankarai Sub Registrar Office handles property registration for Sakthiamman Koil 1st Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Neelankarai?

The median guideline value in Neelankarai for 2024 is Rs 2,200 per sq.ft, which is also the current value for Sakthiamman Koil 1st Street.