Guideline Value for Kabaleeswarar Nagar 3rd North Cross Street

Kabaleeswarar Nagar 3rd North Cross Street guideline value

The current guideline value for Kabaleeswarar Nagar 3rd 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 3rd North Cross Street has changed

Over the years, the guideline value for Kabaleeswarar Nagar 3rd North Cross Street has seen significant changes. In 2002, the guideline value was Rs 747 per sq.ft, which increased to Rs 812 per sq.ft in 2003. This was followed by a substantial rise to Rs 2,750 per sq.ft in 2007. The value then saw an increase to Rs 5,000 per sq.ft in 2012, but it dropped to Rs 3,350 per sq.ft in 2017. The value then rose again to Rs 5,000 per sq.ft in 2023, before reaching the current value of Rs 5,500 per sq.ft in 2024.

Between the revisions, the changes are as follows: from 2002 to 2003, there was an increase of 9%. The value surged by 239% from 2003 to 2007, followed by an increase of 82% from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value rose by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. 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 that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Kabaleeswarar Nagar 3rd North Cross Street above that median.

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

Stamp duty and registration fee for property in Kabaleeswarar Nagar 3rd 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, and the registration fee at 2% would be Rs 1,10,000. Together, the total cost for stamp duty and registration would be 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kabaleeswarar Nagar 3rd North Cross Street?

The Sub Registrar Office that covers Kabaleeswarar Nagar 3rd 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 details.

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

The guideline value is a crucial factor during property transactions in Neelankarai. It serves as the basis for calculating the stamp duty and registration fees that need to be paid at the time of property registration. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kabaleeswarar Nagar 3rd North Cross Street?

The current guideline value for Kabaleeswarar Nagar 3rd North 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 changed significantly over the years, increasing 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 of Kabaleeswarar Nagar 3rd North Cross Street?

Kabaleeswarar Nagar 3rd North Cross Street is classified as Residential Special Type - III.

What are the registration fees for a property in this area?

The registration fees for a property are calculated based on the guideline value. 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.

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.