Guideline Value for Kabaleeswarar Nagar 7th South Cross Street

Kabaleeswarar Nagar 7th South Cross Street guideline value

The current guideline value for Kabaleeswarar Nagar 7th 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 7th South Cross Street has changed

The guideline value for Kabaleeswarar Nagar 7th South Cross Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a value of Rs 747 per sq.ft. This increased to Rs 812 per sq.ft in 2003, marking a 9% rise. The value then saw a significant increase of 239% to Rs 2,750 per sq.ft in 2007. Following this, the value rose by 82% to Rs 5,000 per sq.ft in 2012. However, there was a decrease of 33% in 2017, bringing the value down to Rs 3,350 per sq.ft. The most recent revisions show an increase to Rs 5,000 per sq.ft in 2023, followed by a further increase of 10% to the current value of Rs 5,500 per sq.ft in 2024.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 636%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that the 2024 figure for Kabaleeswarar Nagar 7th South Cross Street is above this median.

• Kabaleeswarar Nagar 6th 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 5th South Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar 9th 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 Kalainger Salai: Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kabaleeswarar Nagar 7th 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, totaling 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 also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kabaleeswarar Nagar 7th South Cross Street?

The Sub Registrar Office that covers Kabaleeswarar Nagar 7th 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 plays a crucial role when buying or selling property in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is essential for calculating the stamp duty and registration fees applicable during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal complications. The registration office will use the guideline value to assess the fees required for the transaction, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kabaleeswarar Nagar 7th South Cross Street?

The current guideline value of Kabaleeswarar Nagar 7th 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, reflecting an overall increase of 636% over this period.

What is the land classification for Kabaleeswarar Nagar 7th South Cross Street?

Kabaleeswarar Nagar 7th South Cross Street is classified as Residential Special Type - III.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where is the Sub Registrar Office for Kabaleeswarar Nagar 7th South Cross Street located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.