Guideline Value for Sulthan Ahmed Street

Sulthan Ahmed Street guideline value

The current guideline value of Sulthan Ahmed Street is Rs 1,700 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 III Type - I.

How the guideline value of Sulthan Ahmed Street has changed

The guideline value for Sulthan Ahmed Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was later reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and then further increased to Rs 1,700 per sq.ft in the 2024 revision, marking a 13% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 13%. The changes from 2017 to 2023 saw a notable increase of 49%, while the 2012 to 2017 period experienced a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 for these streets is Rs 2,200 per sq.ft, which means that Sulthan Ahmed Street's 2024 figure is below this median.

• Sundeep Avenue & Road: Rs 4,400 per sq.ft (2024)
• Sundeep East 1st Street: Rs 3,300 per sq.ft (2024)
• Sundeep East 2nd Street: Rs 3,300 per sq.ft (2024)
• Sundeep Nagar Link Salai: Rs 3,300 per sq.ft (2024)
• Sunny Vale: Rs 6,900 per sq.ft (2024)
• Sunrise Avenue: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sulthan Ahmed Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost to Rs 1,53,000. It is important to note that the 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 Sulthan Ahmed Street?

The Sub Registrar Office that covers Sulthan Ahmed 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 crucial factor during the registration of property transactions in Neelankarai. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value acts as a benchmark for the transaction. Buyers and sellers should be aware of this value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Sulthan Ahmed Street?

The current guideline value of Sulthan Ahmed Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of Sulthan Ahmed Street?

Sulthan Ahmed Street is classified as Residential Class III Type - I.

Where can I find the Neelankarai Sub Registrar Office?

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 Sulthan Ahmed Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 17,00,000 would incur a stamp duty of Rs 1,19,000 at 7%.