Guideline Value for Dr. Khanu Nagar 2nd Cross Street

Dr. Khanu Nagar 2nd Cross Street guideline value

The current guideline value for Dr. Khanu Nagar 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Dr. Khanu Nagar 2nd Cross Street has changed

The guideline value for Dr. Khanu Nagar 2nd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from Rs 1,340 per sq.ft in 2017. The value remained unchanged in the 2023 revision, which also recorded Rs 2,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, marking a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased significantly by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value, reaching the current rate of Rs 2,200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nesapakkam

Nesapakkam village has a total of 148 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft in 2024. The median value for these streets is Rs 3,300 per sq.ft, indicating that the guideline value for Dr. Khanu Nagar 2nd Cross Street is below this median.

• Dr. Khanu Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 12th Street: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Khanu Nagar 2nd 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 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, resulting in a total cost of 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Khanu Nagar 2nd Cross Street?

The Sub Registrar Office that covers Dr. Khanu Nagar 2nd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nesapakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is used to calculate the applicable fees. This ensures that both parties are aware of the financial implications of the transaction and that the appropriate taxes are paid based on the established rates.

Frequently asked questions

What is the current guideline value for Dr. Khanu Nagar 2nd Cross Street?

The current guideline value for Dr. Khanu Nagar 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024. This represents an overall increase of 10% from 2012 to 2024.

What is the land classification for Dr. Khanu Nagar 2nd Cross Street?

The land classification for Dr. Khanu Nagar 2nd Cross Street is Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office, which covers Dr. Khanu Nagar 2nd Cross Street, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.