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Guideline Value

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Guideline Value for VILLAGE MAIN ROAD 5TH CROSS STREET

₹2200/sq.ft.

The guideline value for Village Main Road 5th Cross Street in Sholinganallur - 1 village (Neelankarai SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sholinganallur - 1

Village

Neelankarai

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /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 Village Main Road 5th Cross Street

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Village Main Road 5th Cross Street guideline value

The current guideline value of Village Main Road 5th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, and it falls under the Residential Class II Type - III land classification.

How the guideline value of Village Main Road 5th Cross Street has changed

The guideline value for Village Main Road 5th Cross Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which was then increased to Rs 2,000 per sq.ft in the 2023 revision. The most recent 2024 revision has raised the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

In addition to the revisions with figures, the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The significant increase from Rs 1,340 in 2017 to Rs 2,200 in 2024 illustrates a notable change in the guideline value over this period.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the 2024 guideline value of Village Main Road 5th Cross Street.

Stamp duty and registration fee for property in Village Main Road 5th Cross 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 fees to Rs 1,98,000. 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 Village Main Road 5th Cross Street?

The Sub Registrar Office that covers Village Main Road 5th 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 Sholinganallur - 1

The guideline value is a crucial factor in property transactions within Sholinganallur - 1. It serves as a benchmark for determining the minimum price at which a property can be sold or registered. When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the guideline value ensures that properties are not undervalued, thereby helping maintain transparency in real estate transactions. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Village Main Road 5th Cross Street?

The current guideline value of Village Main Road 5th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft, marking an overall increase of 64% by 2024.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Village Main Road 5th Cross Street is 7% of the guideline value or the sale price, whichever is higher.

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 guideline value determined for properties in Sholinganallur - 1?

The guideline value for properties in Sholinganallur - 1 is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in the real estate market.