Guideline Value for Worker's Estate 5th Street

Worker's Estate 5th Street guideline value

The current guideline value of Worker's Estate 5th Street is Rs 4,400 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 I Type - I.

How the guideline value of Worker's Estate 5th Street has changed

The guideline value for Worker's Estate 5th Street has undergone several revisions over the years. In 2002, the value was Rs 434 per sq.ft, which increased to Rs 483 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 1,500 per sq.ft in 2007, and then to Rs 4,000 per sq.ft in 2012. However, there was a decrease to Rs 2,680 per sq.ft in 2017 before it rose again to Rs 4,000 per sq.ft in 2023. The current value of Rs 4,400 per sq.ft represents a 10% increase from the previous year.

Looking at the changes, the increase from 2017 to 2023 was 49%, while the jump from 2012 to 2017 was a decrease of 33%. The value surged by 167% from 2007 to 2012 and saw a remarkable increase of 211% from 2003 to 2007. 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 a 2024 guideline value 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, placing Worker's Estate 5th Street above this median.

• Worker's Estate 5th Cross Street: Rs 4,400 per sq.ft (2024)
• Worker's Estate 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Worker's Estate 3rd Street: Rs 4,400 per sq.ft (2024)
• Worker's Estate 3rd Main Road: Rs 4,400 per sq.ft (2024)
• Worker's Estate 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Worker's Estate 2nd Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Worker's Estate 5th 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 charges to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Worker's Estate 5th Street?

The Sub Registrar Office that covers Worker's Estate 5th 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 details.

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

The guideline value is a crucial factor when registering property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which properties can be sold or purchased, ensuring transparency in the registration process.

When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are recorded accurately and fairly, reflecting the official value set by the authorities.

Frequently asked questions

What is the current guideline value of Worker's Estate 5th Street?

The current guideline value of Worker's Estate 5th 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 over the years, with the most recent increase of 10% from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024.

What is the classification of Worker's Estate 5th Street?

Worker's Estate 5th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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 stamp duty calculated for properties in Worker's Estate 5th Street?

Stamp duty for properties in Worker's Estate 5th Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 3,08,000 based on the current guideline value.