Guideline Value for Kabaleeswarar Nagar 5th South Cross Street

Kabaleeswarar Nagar 5th South Cross Street guideline value

The current guideline value of Kabaleeswarar Nagar 5th 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 5th South Cross Street has changed

The guideline value for Kabaleeswarar Nagar 5th South Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 747 per sq.ft. This increased significantly to Rs 812 per sq.ft in 2003, marking a change of +9%. The value continued to rise, reaching Rs 2,750 per sq.ft in 2007, which represented a substantial increase of +239%. By 2012, the value was Rs 5,000 per sq.ft, showing an increase of +82% from the previous revision.

From 2012 to 2017, the guideline value dropped to Rs 3,350 per sq.ft, a decrease of -33%. However, it rebounded to Rs 5,000 per sq.ft in 2023, reflecting an increase of +49%. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, which is a +10% increase from the previous year. The overall change from 2002 to 2024 is +636%.

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 is Rs 2,200 per sq.ft, placing Kabaleeswarar Nagar 5th South Cross Street above this median.

• Kabaleeswarar Nagar 4th 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 4th North Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar 7th 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 8th South Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kabaleeswarar Nagar 5th 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 or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kabaleeswarar Nagar 5th South Cross Street?

The Sub Registrar Office that covers Kabaleeswarar Nagar 5th 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 property transactions, ensuring that the fees are calculated based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost associated with property transactions. This value is updated periodically, and staying informed can help in making better financial decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Kabaleeswarar Nagar 5th South Cross Street?

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

What is the land classification for Kabaleeswarar Nagar 5th South Cross Street?

Kabaleeswarar Nagar 5th South 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 is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 55,00,000, the stamp duty would be calculated at 7% of that amount.