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Guideline Value

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Guideline Value for KUMARAGURU AVENUE 2nd STREET

₹2800/sq.ft.

The guideline value for Kumaraguru Avenue 2nd Street in Okkiyamthuraipakkam village (Neelankarai SRO, Chennai zone) is Rs 2800 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 12% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Okkiyamthuraipakkam

Village

Neelankarai

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹2800 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
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 Kumaraguru Avenue 2nd Street

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KUMARAGURU AVENUE 2nd STREET guideline value

The current guideline value for KUMARAGURU AVENUE 2nd STREET is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of KUMARAGURU AVENUE 2nd STREET has changed

The guideline value for KUMARAGURU AVENUE 2nd STREET has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. This marked a decrease of 33%. Following this, the value saw a significant increase to Rs 2,500 per sq.ft in the 2023 revision, and further to Rs 2,800 per sq.ft in the 2024 revision, reflecting an increase of 12% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 12%. The register has no figures for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. KUMARAGURU AVENUE 2nd STREET's 2024 guideline value is below this median.

Stamp duty and registration fee for property in KUMARAGURU AVENUE 2nd STREET

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers KUMARAGURU AVENUE 2nd STREET?

The KUMARAGURU AVENUE 2nd STREET falls under 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, visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Okkiyamthuraipakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When registering a property, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives due revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for KUMARAGURU AVENUE 2nd STREET?

The current guideline value for KUMARAGURU AVENUE 2nd STREET is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, marking a 12% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012, showing a significant increase from 2017 to 2023.

What is the land classification for KUMARAGURU AVENUE 2nd STREET?

KUMARAGURU AVENUE 2nd STREET is classified as Residential Class II Type - II. This classification is important for understanding the type of development allowed in the area.

Where can I find the registration office for KUMARAGURU AVENUE 2nd STREET?

The registration office for KUMARAGURU AVENUE 2nd STREET is the Neelankarai Sub Registrar Office, 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 KUMARAGURU AVENUE 2nd STREET?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 28,00,000, the stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000.