Guideline Value

Corporate

Guideline Value for Worker's Estate 1st Street

₹4400/sq.ft.

The guideline value for Worker's Estate 1st Street in Neelankarai village (Neelankarai SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Neelankarai

Village

Neelankarai

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹483 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹434 /sq.ft.
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 Worker's Estate 1st Street

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Worker's Estate 1st Street guideline value

The current guideline value of Worker's Estate 1st Street in Neelankarai village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class I Type - I.

How the guideline value of Worker's Estate 1st Street has changed

The guideline value for Worker's Estate 1st Street has seen significant changes over the years. In 2002, the value was Rs 434 per sq.ft, which increased to Rs 483 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose dramatically to Rs 1,500 per sq.ft, reflecting a 211% increase. The value then experienced a substantial jump to Rs 4,000 per sq.ft in 2012, an increase of 167%. However, it decreased to Rs 2,680 per sq.ft in 2017, which was a decline of 33% from the previous revision. The value then rose to Rs 4,000 per sq.ft in 2023, marking a 49% increase before reaching the current value of Rs 4,400 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 914%.

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, and Worker's Estate 1st Street's 2024 figure is above this median.

Stamp duty and registration fee for property in Worker's Estate 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Worker's Estate 1st Street?

The Sub Registrar Office that covers Worker's Estate 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. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Neelankarai

The guideline value is an essential factor in property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official value set by the authorities.

It is crucial for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. The registration office will refer to this value when processing property registrations, making it a key element in any real estate deal in the area.

Frequently asked questions

What is the current guideline value for Worker's Estate 1st Street?

The current guideline value for Worker's Estate 1st Street is Rs 4,400 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 434 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 914% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations in Neelankarai?

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

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties and is essential for calculating stamp duty and registration fees during property transactions.