Guideline Value for Kabaleeswarar Nagar 4th South Cross Street

Kabaleeswarar Nagar 4th South Cross Street guideline value

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

The guideline value for Kabaleeswarar Nagar 4th South Cross Street has undergone 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, the value saw 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 experienced a decline to Rs 3,350 per sq.ft by 2017. The value then rose to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft in 2024. The changes between the revisions include a 9% increase from 2002 to 2003, a 239% increase from 2003 to 2007, an 82% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

It is important to note that there are no figures available for revisions in years other than those listed above.

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 4th South Cross Street above this median.

• Kabaleeswarar Nagar 4th 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 3rd 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 3rd North Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar 7th South Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kabaleeswarar Nagar 4th South 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 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 fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kabaleeswarar Nagar 4th South Cross Street?

The Sub Registrar Office that covers Kabaleeswarar Nagar 4th 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

The guideline value is a crucial aspect of property transactions in Neelankarai. It serves as a reference point for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded accurately in the official registry.

Additionally, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of these values to ensure compliance with local regulations and to facilitate a smooth registration process.

Frequently asked questions

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

The current guideline value of Kabaleeswarar Nagar 4th 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 significantly over the years, starting from Rs 747 per sq.ft in 2002 to the current value of Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 636% since 2002.

What is the land classification for Kabaleeswarar Nagar 4th South Cross Street?

Kabaleeswarar Nagar 4th South Cross Street is classified as Residential Special Type - III, which indicates its designated use for residential purposes.

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 Kabaleeswarar Nagar 4th South Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, a 1,000 sq.ft plot at the current guideline value results in a stamp duty of Rs 3,85,000.