Guideline Value for KUMARASAMY 4TH CROSS STREET

Kumarasamy 4th Cross Street guideline value

The current guideline value of Kumarasamy 4th 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 4th Cross Street has changed

The guideline value for Kumarasamy 4th Cross Street has seen significant changes over the years. The earliest available revision is from 2017, where the guideline value was Rs 2,345 per sq.ft. This increased to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has set the value at Rs 3,900 per sq.ft, reflecting an 11% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 66%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Sholinganallur - 1

In the village of Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with 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, placing Kumarasamy 4th Cross Street's 2024 figure above that median.

• Kumarasamy 3rd Main Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 5th Cross Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 3rd Cross Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 2nd Main Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 1st Main Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarasamy 4th 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, and the registration fee at 2% would be Rs 78,000, bringing the total cost to 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.

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

Which Sub Registrar Office covers Kumarasamy 4th Cross Street?

The Kumarasamy 4th 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. 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 critical factor in the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence negotiations and the final sale price. Buyers should ensure that the sale price is not significantly lower than the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value for Kumarasamy 4th Cross Street?

The current guideline value for Kumarasamy 4th Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

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, representing an overall increase of 66%.

What are the stamp duty and registration fees for properties on this street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 3,51,000.

Which Sub Registrar Office covers Kumarasamy 4th Cross Street?

The Neelankarai Sub Registrar Office covers Kumarasamy 4th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the land classification for Kumarasamy 4th Cross Street?

The land classification for Kumarasamy 4th Cross Street is Residential Class I Type - II.