Guideline Value for Kazura Garden 1st Pirathana Salai

Kazura Garden 1st Pirathana Salai guideline value

The current guideline value of Kazura Garden 1st Pirathana Salai is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Kazura Garden 1st Pirathana Salai has changed

Since the 2012 revision, the guideline value for Kazura Garden 1st Pirathana Salai has seen several changes. In 2012, the value was Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in 2017. Following this, there was a significant increase to Rs 3,500 per sq.ft in 2023, and further to Rs 3,900 per sq.ft in 2024, marking an 11% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has risen by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, 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, and Kazura Garden 1st Pirathana Salai's 2024 value is above this median.

• Kazura Garden 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Kazura Garden 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Kazura Garden 2nd Pirathana Salai: Rs 3,900 per sq.ft (2024)
• Kazura Garden 3rd Cross Street: Rs 3,900 per sq.ft (2024)
• Kazura Garden 4th Cross Street: Rs 3,900 per sq.ft (2024)
• Kazura Garden 5th Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kazura Garden 1st Pirathana Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. Please 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 more details.

Which Sub Registrar Office covers Kazura Garden 1st Pirathana Salai?

The Sub Registrar Office that covers Kazura Garden 1st Pirathana Salai 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 factor in property transactions, as it determines the minimum value at which a property must be registered. When buying or selling property in Neelankarai, the guideline value is used to calculate stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration regulations and to accurately assess the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Kazura Garden 1st Pirathana Salai?

The current guideline value of Kazura Garden 1st Pirathana Salai is Rs 3,900 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 3,500 per sq.ft in 2012, decreasing to Rs 2,345 per sq.ft in 2017, then increasing to Rs 3,500 per sq.ft in 2023, and finally reaching Rs 3,900 per sq.ft in 2024.

What is the land classification for Kazura Garden 1st Pirathana Salai?

Kazura Garden 1st Pirathana Salai is classified as Residential Class I Type - II.

Where is the Neelankarai Sub Registrar Office located?

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 Kazura Garden 1st Pirathana Salai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,73,000.