Guideline Value for KUMARASAMY 1ST CROSS STREET

Kumarasamy 1st Cross Street guideline value

The current guideline value of Kumarasamy 1st Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Sholinganallur - 1 village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Kumarasamy 1st Cross Street has changed

In the 2017 revision, the guideline value was set at Rs 2,345 per sq.ft. This figure remained until the 2024 revision, which increased the guideline value to Rs 3,900 per sq.ft, marking a significant increase of 66% over the seven-year period.

The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Kumarasamy 1st Cross Street. Therefore, the only revisions available are from 2017 and 2024.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing Kumarasamy 1st Cross Street above this median.

• Kumarasamy 1st Main Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 2nd Main Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 3rd Cross Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 3rd Main Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 4th Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarasamy 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, while the registration fee at 2% would be Rs 78,000, bringing the total fees together to Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Kumarasamy 1st Cross Street?

The Sub Registrar Office that covers Kumarasamy 1st Cross 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 Sholinganallur - 1

The guideline value plays a crucial role during the registration of property transactions in Sholinganallur - 1. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the official value of the property as determined by the local authorities. This helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value for Kumarasamy 1st Cross Street?

The current guideline value for Kumarasamy 1st Cross Street is Rs 3,900 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 2,345 per sq.ft to Rs 3,900 per sq.ft in 2024, which is a rise of 66%.

What is the land classification for Kumarasamy 1st Cross Street?

Kumarasamy 1st Cross Street is classified as Residential Class I Type - II.

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 this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 39,00,000 would incur a stamp duty of Rs 2,73,000 at 7%.