Guideline Value for KUMARASAMY 2ND CROSS STREET

Kumarasamy 2nd Cross Street guideline value

The current guideline value of Kumarasamy 2nd Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Kumarasamy 2nd Cross Street has changed

The guideline value for Kumarasamy 2nd Cross Street has seen significant changes over the years. The 2017 revision set the value at Rs 2,345 per sq.ft, which was an increase from previous revisions, although the register has no figures for the years 2002, 2003, 2007, 2012, and 2023. The most recent revision in 2024 raised the value to Rs 3,900 per sq.ft, marking an increase of 66% from the 2017 figure.

This increase reflects the changing dynamics of property valuation in the area. The 2024 figure is notably higher than the median value of Rs 2,200 per sq.ft for the 754 streets in Sholinganallur - 1 under the Neelankarai SRO.

Guideline values in Sholinganallur - 1

The village of Sholinganallur - 1 has a range of guideline values from Rs 1,000 to Rs 8,800 per sq.ft. Kumarasamy 2nd Cross Street's current guideline value is above the median for the area.

• Kumarasamy 1st Main Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 2nd Main Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 1st Cross 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 2nd 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 amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kumarasamy 2nd Cross Street?

Kumarasamy 2nd Cross Street is covered by 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 information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in the registration of property transactions in Sholinganallur - 1. It is used to determine the stamp duty and registration fees payable when a property is bought or sold.

When registering a property, buyers must consider the guideline value as it serves as a benchmark for the transaction. The registration process ensures that the property is valued accurately, reflecting its worth in the current market.

Frequently asked questions

What is the current guideline value of Kumarasamy 2nd Cross Street?

The current guideline value of Kumarasamy 2nd 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 by 66%, rising from Rs 2,345 per sq.ft to Rs 3,900 per sq.ft in 2024.

What is the land classification for Kumarasamy 2nd Cross Street?

The land classification for Kumarasamy 2nd Cross Street is 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 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 a rate of 7%.