Guideline Value for Kabaleeswarar Nagar 2nd North Cross Street

Kabaleeswarar Nagar 2nd North Cross Street guideline value

The current guideline value of Kabaleeswarar Nagar 2nd 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 2nd North Cross Street has changed

Over the years, the guideline value of Kabaleeswarar Nagar 2nd North Cross Street has seen significant changes. In 2002, the value was Rs 747 per sq.ft, which increased to Rs 812 per sq.ft in 2003, marking a change of +9%. The value then rose dramatically to Rs 2,750 per sq.ft in 2007, reflecting a substantial increase of +239%. In 2012, the value was Rs 5,000 per sq.ft, showing an increase of +82% from the previous revision. However, it decreased to Rs 3,350 per sq.ft in 2017, indicating a decline of -33%.

From 2017 to 2023, the guideline value increased significantly to Rs 5,000 per sq.ft, representing a rise of +49%. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, which is a +10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by +636%.

Guideline values in Neelankarai

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

• Kabaleeswarar Nagar 1st South Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar 2nd South Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar 1st North 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 2nd 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 would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for stamp duty and registration fee would be Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kabaleeswarar Nagar 2nd North Cross Street?

The Sub Registrar Office covering Kabaleeswarar Nagar 2nd 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 plays a crucial role in property transactions in Neelankarai, as it is the basis for calculating stamp duty and registration fees. When a property is bought or sold, the guideline value is referenced to determine the applicable charges, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. This value helps in maintaining transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Kabaleeswarar Nagar 2nd North Cross Street?

The current guideline value of Kabaleeswarar Nagar 2nd 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 from Rs 747 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of +636% over the years.

What is the land classification for this street?

Kabaleeswarar Nagar 2nd North 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 is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty at 7% would be Rs 3,85,000.