Guideline Value for Kabaleeswarar Nagar 8th South Cross Street

Kabaleeswarar Nagar 8th South Cross Street guideline value

The current guideline value of Kabaleeswarar Nagar 8th 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 8th South Cross Street has changed

The guideline value for Kabaleeswarar Nagar 8th South Cross Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 747 per sq.ft. This increased to Rs 812 per sq.ft in 2003, marking a change of +9%. The next significant increase came in 2007, when the value rose to Rs 2,750 per sq.ft, reflecting a substantial increase of +239%. In 2012, the value was revised to Rs 5,000 per sq.ft, showing an increase of +82% from the previous revision. However, the value decreased by -33% to Rs 3,350 per sq.ft in 2017.

From 2017 to 2023, the guideline value increased significantly by +49%, reaching Rs 5,000 per sq.ft. The most recent revision in 2024 has set the value at Rs 5,500 per sq.ft, which is a +10% increase from the 2023 figure. The register has no figures for the years between these revisions for this street.

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 guideline value for these streets is Rs 2,200 per sq.ft, placing the 2024 value of Kabaleeswarar Nagar 8th South Cross Street above this median.

• Kabaleeswarar Nagar 7th 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 6th South Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar Kalainger Salai: Rs 6,100 per sq.ft (2024)
• Kabaleeswarar Nagar 5th South Cross Street: Rs 5,500 per sq.ft (2024)
• Kabaleeswarar Nagar North 1st Main Road: Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kabaleeswarar Nagar 8th 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kabaleeswarar Nagar 8th South Cross Street?

The Sub Registrar Office that covers Kabaleeswarar Nagar 8th 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 details.

How the guideline value is used when you buy or sell in Neelankarai

The guideline value is an important factor in property transactions in Neelankarai. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

When registering a property, it is essential to refer to the guideline value to ensure compliance with local regulations. This value helps in assessing the official worth of the property for taxation purposes, thereby facilitating a transparent transaction process.

Frequently asked questions

What is the current guideline value of Kabaleeswarar Nagar 8th South Cross Street?

The current guideline value of Kabaleeswarar Nagar 8th 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 from Rs 747 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, showing an overall increase of +636% over the years.

What are the stamp duty and registration fees for properties 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.

Which office handles registrations for Kabaleeswarar Nagar 8th South Cross Street?

The Neelankarai Sub Registrar Office handles registrations for Kabaleeswarar Nagar 8th South Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees when buying or selling property. It is essential for buyers and sellers to refer to this value to ensure compliance with local regulations.