Guideline Value for Kabaleeswarar Nagar 2nd South Cross Street

Kabaleeswarar Nagar 2nd South Cross Street guideline value

The current guideline value for Kabaleeswarar Nagar 2nd 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 2nd South Cross Street has changed

The guideline value for Kabaleeswarar Nagar 2nd South Cross Street has seen several revisions over the years. The earliest recorded revision is from 2002, which set the value at Rs 747 per sq.ft. This figure increased significantly to Rs 812 per sq.ft in 2003, marking a 9% rise. From 2003 to 2007, the value surged to Rs 2,750 per sq.ft, a remarkable increase of 239%. The 2012 revision recorded a drop to Rs 5,000 per sq.ft, reflecting a decrease of 82% from the previous figure. However, this was followed by a substantial increase to Rs 3,350 per sq.ft in 2017, which represented a 49% rise. The value further increased to Rs 5,000 per sq.ft in 2023, and finally, it reached Rs 5,500 per sq.ft in the 2024 revision, marking a 10% increase.

It is important to note that there are no figures available for the years not mentioned in the revisions. The overall increase from 2002 to 2024 is a significant 636%.

Guideline values in Neelankarai

In Neelankarai village, there are 377 streets under the Neelankarai SRO, with guideline values for 2024 ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value is Rs 2,200 per sq.ft, making the current figure for Kabaleeswarar Nagar 2nd South Cross Street above this median.

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

For a 1,000 sq.ft plot at the current rate, the 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 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 also use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Kabaleeswarar Nagar 2nd 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 more information.

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

When buying or selling property in Neelankarai, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum price at which a property can be registered, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value as it can affect the overall costs involved in the transaction. Understanding this value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value for Kabaleeswarar Nagar 2nd South Cross Street?

The current guideline value for Kabaleeswarar Nagar 2nd South 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 several times, starting from Rs 747 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 636%.

What is the land classification for Kabaleeswarar Nagar 2nd South Cross Street?

Kabaleeswarar Nagar 2nd South Cross Street is classified as Residential Special Type - III.

What are the stamp duty and registration fees for properties 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 is the Sub Registrar Office for Kabaleeswarar Nagar 2nd South Cross Street located?

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