Guideline Value for Kabaleeswarar Nagar 6th South Cross Street

Kabaleeswarar Nagar 6th South Cross Street guideline value

The current guideline value of Kabaleeswarar Nagar 6th South Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, which falls under the Neelankarai SRO, and is classified as Residential Special Type - III.

How the guideline value of Kabaleeswarar Nagar 6th South Cross Street has changed

The guideline value has seen several revisions over the years. The earliest recorded figure is from 2002, when the guideline value was Rs 747 per sq.ft. This increased to Rs 812 per sq.ft in 2003, marking a rise of 9%. The next significant jump occurred between 2003 and 2007, where the value surged to Rs 2,750 per sq.ft, representing a 239% increase. In 2012, the value rose to Rs 5,000 per sq.ft, which was an increase of 82% from the previous revision. However, it then decreased to Rs 3,350 per sq.ft in 2017, reflecting a decline of 33%. The value saw a substantial increase again from 2017 to 2023, reaching Rs 5,000 per sq.ft, which was a rise of 49%. Finally, the current value of Rs 5,500 per sq.ft was established in the 2024 revision, marking a 10% increase from the previous year.

Guideline values in Neelankarai

In Neelankarai village, 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 value for these streets is Rs 2,200 per sq.ft, positioning Kabaleeswarar Nagar 6th South Cross Street above this median.

• Kabaleeswarar Nagar 5th South Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar 7th 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 8th 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 9th South Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kabaleeswarar Nagar 6th South Cross Street

For a property measuring 1,000 sq.ft 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, bringing the total to 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 6th South Cross Street?

The Kabaleeswarar Nagar 6th South Cross Street is covered by 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 plays a crucial role during the registration of property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with the legal requirements set forth by the registration authorities.

Frequently asked questions

What is the current guideline value of Kabaleeswarar Nagar 6th South Cross Street?

The current guideline value of Kabaleeswarar Nagar 6th 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 several times, starting from Rs 747 per sq.ft in 2002 to the current value of Rs 5,500 per sq.ft in 2024, with various increases and one decrease recorded in between.

What is the land classification for this street?

Kabaleeswarar Nagar 6th 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 properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.