Guideline Value

Corporate

Guideline Value for VILLAGE ROAD 1ST LANE

₹2200/sq.ft.

The guideline value for Village Road 1st Lane in Sholinganallur - 1 village (Neelankarai SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. 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 N/A
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 Road 1st Lane

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Village Road 1st Lane guideline value

The current guideline value of Village Road 1st Lane 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 Road 1st Lane has changed

The guideline value for Village Road 1st Lane has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which represents a significant increase from the 2017 revision of Rs 1,340 per sq.ft. This change reflects a rise of 64% over the seven-year period.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street. The only revisions that provide figures are from 2017 and 2024, with the latter being the current guideline value.

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 current guideline value of Village Road 1st Lane.

Stamp duty and registration fee for property in Village Road 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

You can use our stamp duty and registration fee calculator for more precise calculations based on your specific property details.

Which Sub Registrar Office covers Village Road 1st Lane?

The Sub Registrar Office that covers Village Road 1st Lane is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a critical component in the registration process for buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the property transfer process.

Frequently asked questions

What is the current guideline value of Village Road 1st Lane?

The current guideline value of Village Road 1st Lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking a rise of 64% over that period. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for Village Road 1st Lane?

Village Road 1st Lane falls under the Residential Class II Type - III land classification. This classification is important for determining the usage and development potential of the land.

What are the stamp duty rates applicable for properties in this area?

The stamp duty rate for properties in Village Road 1st Lane is 7%, while the registration fee is 2%. These rates apply to the higher of the guideline value or the sale price during property transactions.

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. You can find more information about your specific SRO by visiting the provided link.