Guideline Value for Kabaleeswarar Nagar 3rd South Cross Street

Kabaleeswarar Nagar 3rd South Cross Street guideline value

The current guideline value of Kabaleeswarar Nagar 3rd 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 3rd South Cross Street has changed

The guideline value for Kabaleeswarar Nagar 3rd South Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 747 per sq.ft, which increased to Rs 812 per sq.ft in 2003. Following this, there was a significant rise to Rs 2,750 per sq.ft in 2007, and it further increased to Rs 5,000 per sq.ft in 2012. However, there was a decrease to Rs 3,350 per sq.ft in 2017. The guideline value then rose to Rs 5,000 per sq.ft in 2023, before reaching the current value of Rs 5,500 per sq.ft in 2024.

Examining the changes between these revisions, from 2002 to 2024, the overall increase is 636%. The change from 2017 to 2023 was an increase of 49%, while the shift from 2012 to 2017 saw a decrease of 33%. The increase from 2007 to 2012 was 82%, and from 2003 to 2007, it was a substantial 239%. The change from 2002 to 2003 was 9%.

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. Kabaleeswarar Nagar 3rd South Cross Street's 2024 figure is above this median.

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

Stamp duty and registration fee for property in Kabaleeswarar Nagar 3rd South Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, 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 duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Kabaleeswarar Nagar 3rd 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. To find your SRO, you can visit find your SRO.

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. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs involved in the registration process. The guideline value ensures that property transactions are conducted transparently and fairly, reflecting the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value for Kabaleeswarar Nagar 3rd South Cross Street?

The current guideline value for Kabaleeswarar Nagar 3rd 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 from Rs 747 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024. The highest increase was from 2003 to 2007, where it rose by 239%.

What is the land classification for this street?

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

Which office handles property registration for this area?

The Neelankarai Sub Registrar Office handles property registration for Kabaleeswarar Nagar 3rd South Cross Street, 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 amount to Rs 3,85,000.