Guideline Value for Kabaleeswarar Nagar 1st South Cross Street

Kabaleeswarar Nagar 1st South Cross Street guideline value

The current guideline value of Kabaleeswarar Nagar 1st South 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 South Cross Street has changed

The guideline value for Kabaleeswarar Nagar 1st South Cross Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 747 per sq.ft. This increased significantly to Rs 812 per sq.ft in 2003, marking a 9% rise. The following revisions showed substantial changes, with the value jumping to Rs 2,750 per sq.ft in 2007, which was a remarkable 239% increase. In 2012, it reached Rs 5,000 per sq.ft, reflecting an 82% increase from the previous revision. However, the value dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. The 2023 revision set the value at Rs 5,000 per sq.ft, and the most recent revision in 2024 has increased it to Rs 5,500 per sq.ft, a 10% increase.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 636%. There are no figures available for the years not listed in the register for this street.

Guideline values in Neelankarai

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

• Kabaleeswarar Nagar 1st North 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 South 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 would be Rs 55,00,000. The stamp duty at 7% would amount to 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 or the sale price. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Kabaleeswarar Nagar 1st South 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 further assistance.

How the guideline value is used when you buy or sell in Neelankarai

The guideline value plays a crucial role in the registration process of property transactions in Neelankarai. It is the minimum value set by the government for a property, which ensures that the property is registered at a fair value. Buyers and sellers must consider this value when determining the sale price of a property.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, and it is essential for both parties to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

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

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

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

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 are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 4,95,000.