Guideline Value for KUMARASAMY 5TH CROSS STREET

Kumarasamy 5th Cross Street guideline value

The current guideline value of Kumarasamy 5th Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village, under the Neelankarai SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Kumarasamy 5th Cross Street has changed

The guideline value for Kumarasamy 5th Cross Street has seen significant changes over the years. In the 2017 revision, the value was set at 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 further raised the value to Rs 3,900 per sq.ft, reflecting an 11% increase from the previous year. Overall, from 2017 to 2024, the guideline value has surged by 66%.

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

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that have 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 5th Cross Street's 2024 figure above this median.

• Kumarasamy 4th Cross Street: Rs 3,900 per sq.ft (2024)
• Kumarasamy 3rd Main 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 5th 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 to Rs 3,51,000. It is important to note that 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 Kumarasamy 5th Cross Street?

The Sub Registrar Office that covers Kumarasamy 5th 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. 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 is a critical factor in the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the minimum value of a property, which is essential for calculating stamp duty and registration fees.

When a property is sold, the guideline value helps ensure that the transaction is registered at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kumarasamy 5th Cross Street?

The current guideline value of Kumarasamy 5th 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 2017, the guideline value has increased significantly, from Rs 2,345 per sq.ft in 2017 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 66%.

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

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles the registration for Kumarasamy 5th Cross Street?

The Neelankarai Sub Registrar Office handles the registration for Kumarasamy 5th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Kumarasamy 5th Cross Street?

The land classification for Kumarasamy 5th Cross Street is Residential Class I Type - II, indicating its suitability for residential development.