Guideline Value for Kabaleeswarar Nagar 4th North Cross Street

Kabaleeswarar Nagar 4th North Cross Street guideline value

The current guideline value of Kabaleeswarar Nagar 4th 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 4th North Cross Street has changed

The guideline value for Kabaleeswarar Nagar 4th North Cross Street has seen several revisions over the years. In 2002, the value was Rs 747 per sq.ft, which increased to Rs 812 per sq.ft in 2003. Following this, the value experienced a significant rise to Rs 2,750 per sq.ft in 2007, and then to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017, before increasing again to Rs 5,000 per sq.ft in 2023. The most recent revision in 2024 sets the guideline value at Rs 5,500 per sq.ft.

Looking at the changes between these revisions, from 2002 to 2024, the overall increase is 636%. Notably, the jump from 2023 to 2024 is 10%, and from 2017 to 2023, there was a 49% increase. The value decreased by 33% from 2012 to 2017, while it rose by 82% from 2007 to 2012. The increase from 2003 to 2007 was substantial at 239%, and from 2002 to 2003, it was 9%. There are no figures available for years other than those listed.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that have 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 4th North Cross Street's 2024 figure is above this median.

• Kabaleeswarar Nagar 3rd South Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar 4th 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 5th South Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar 6th South Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar 2nd South Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kabaleeswarar Nagar 4th 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, these fees would total 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 4th North Cross Street?

The Sub Registrar Office that covers Kabaleeswarar Nagar 4th 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 is a crucial factor when buying or selling property in Neelankarai. It determines the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for tax purposes. Buyers and sellers must be aware of the guideline value to avoid discrepancies during the registration process.

When registering a property, 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, aligning with the established guideline values.

Frequently asked questions

What is the current guideline value of Kabaleeswarar Nagar 4th North Cross Street?

The current guideline value of Kabaleeswarar Nagar 4th 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 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 Kabaleeswarar Nagar 4th North Cross Street?

Kabaleeswarar Nagar 4th 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 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, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 55,00,000, with applicable fees calculated accordingly.