Guideline Value for Kabaleeswarar Nagar 1st North Cross Street

Kabaleeswarar Nagar 1st North Cross Street guideline value

The current guideline value of Kabaleeswarar Nagar 1st North Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Special Type - III.

How the guideline value of Kabaleeswarar Nagar 1st North Cross Street has changed

The guideline value for Kabaleeswarar Nagar 1st North Cross Street has seen several revisions over the years. In 2002, the value was Rs 747 per sq.ft, which rose to Rs 812 per sq.ft in 2003, marking a 9% increase. The value then experienced a significant jump to Rs 2,750 per sq.ft in 2007, reflecting a 239% rise. Following this, the value increased to Rs 5,000 per sq.ft in 2012, which was an 82% increase. However, in 2017, the value decreased to Rs 3,350 per sq.ft, representing a decline of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, before reaching the current figure of Rs 5,500 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 636%. There are no figures available for revisions in years other than those listed.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Kabaleeswarar Nagar 1st North Cross Street is above this median.

• Kabaleeswarar Nagar 1st South Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar 2nd North Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar 2nd South Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar 3rd North Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar 3rd South Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar 4th North Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kabaleeswarar Nagar 1st North Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator to estimate your fees.

Which Sub Registrar Office covers Kabaleeswarar Nagar 1st North Cross Street?

The Sub Registrar Office that covers Kabaleeswarar Nagar 1st North 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 Neelankarai

The guideline value is a crucial factor when registering property in Neelankarai. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers should be aware that the fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value can help buyers and sellers navigate the registration process more effectively. It ensures compliance with local regulations and helps in estimating the financial obligations associated with property transactions.

Frequently asked questions

What is the current guideline value of Kabaleeswarar Nagar 1st North Cross Street?

The current guideline value of Kabaleeswarar Nagar 1st North Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 747 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, which is an overall increase of 636%.

What is the land classification for Kabaleeswarar Nagar 1st North Cross Street?

Kabaleeswarar Nagar 1st North Cross Street is classified as Residential Special Type - III.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where can I find the Sub Registrar Office for Kabaleeswarar Nagar 1st North Cross Street?

The Neelankarai Sub Registrar Office covers this area and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.