Guideline Value for Sakthiamman Koil 2nd Street

Sakthiamman Koil 2nd Street guideline value

The current guideline value for Sakthiamman Koil 2nd 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 is classified as Residential Class II Type - III.

How the guideline value of Sakthiamman Koil 2nd Street has changed

The guideline value for Sakthiamman Koil 2nd Street has seen several revisions over the years. In 2002, the guideline value was Rs 329 per sq.ft, which increased to Rs 421 per sq.ft in 2003, marking a change of +28%. The value rose significantly to Rs 1,000 per sq.ft in 2007, a change of +138%. Following this, the value doubled to Rs 2,000 per sq.ft in 2012, resulting in a -33% change. In 2017, it was revised again to Rs 1,340 per sq.ft, which was a +49% increase from the previous figure. The most recent revision in 2023 set the value at Rs 2,000 per sq.ft, and it has now increased to Rs 2,200 per sq.ft in 2024, reflecting a +10% change.

Overall, from 2002 to 2024, the guideline value has increased by +569%. The register has no figures for the years not mentioned in the list.

Guideline values in Neelankarai

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

• Sakthiamman Koil 1st 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 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthiamman Koil 2nd Street?

The Sub Registrar Office that covers Sakthiamman Koil 2nd 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 a standard reference used during property registration in Neelankarai. It helps determine the value of the property for taxation purposes, ensuring that the correct stamp duty and registration fees are applied.

When buying or selling property, the guideline value is crucial for both parties to understand the financial implications involved in the transaction. It is essential to consult the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sakthiamman Koil 2nd Street?

The current guideline value of Sakthiamman Koil 2nd 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 multiple times, with the most recent increase being from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, a change of +10%.

What is the land classification for Sakthiamman Koil 2nd Street?

Sakthiamman Koil 2nd Street is classified as Residential Class II Type - III.

Where is the Neelankarai Sub Registrar Office located?

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 the stamp duty calculated for properties in Sakthiamman Koil 2nd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the stamp duty would be Rs 1,54,000.