Guideline Value for KUMARAN NAGAR 1st CROSS STREET

KUMARAN NAGAR 1st CROSS STREET guideline value

The current guideline value of KUMARAN NAGAR 1st CROSS STREET is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of KUMARAN NAGAR 1st CROSS STREET has changed

The guideline value for KUMARAN NAGAR 1st CROSS STREET has seen significant changes over the years. In the 2017 revision, the value was Rs 2,010 per sq.ft. With the 2024 revision, the value increased to Rs 3,300 per sq.ft, marking a change of +64% from the previous figure.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street.

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, making the guideline value for KUMARAN NAGAR 1st CROSS STREET above the median.

• KUMARAN NAGAR 1st MAIN ROAD: Rs 3,300 per sq.ft (2024)
• Kumaran Nagar 1st Street (Approved): Rs 3,300 per sq.ft (2024)
• KUMARAN NAGAR 2nd CROSS STREET: Rs 3,300 per sq.ft (2024)
• KUMARAN NAGAR 2nd MAIN ROAD: Rs 3,300 per sq.ft (2024)
• KUMARAN NAGAR 3rd CROSS STREET: Rs 3,300 per sq.ft (2024)
• KUMARAN NAGAR 5th CROSS STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KUMARAN NAGAR 1st CROSS STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. 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 more details.

Which Sub Registrar Office covers KUMARAN NAGAR 1st CROSS STREET?

The KUMARAN NAGAR 1st CROSS 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, 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 crucial factor in property transactions in Sholinganallur - 1. It is used to determine the stamp duty and registration fees that must be paid during the buying or selling process. This value is set by the government and is subject to periodic revisions.

When you register a property, the guideline value or the sale price is taken into account, and the higher of the two is used for calculating the applicable duties and fees. This ensures that the government collects the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of KUMARAN NAGAR 1st CROSS STREET?

The current guideline value of KUMARAN NAGAR 1st CROSS STREET is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft, which is a change of +64%.

What is the land classification of KUMARAN NAGAR 1st CROSS STREET?

KUMARAN NAGAR 1st CROSS STREET is classified as Residential Class II Type - I.

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.

How is the stamp duty calculated for properties in KUMARAN NAGAR 1st CROSS STREET?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.