Guideline Value for Kazura Garden 5th Cross Street

Kazura Garden 5th Cross Street guideline value

The current guideline value of Kazura Garden 5th Cross Street 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 5th Cross Street has changed

In the 2012 revision, the guideline value was Rs 3,500 per sq.ft. This figure remained unchanged in the 2017 revision, where it decreased to Rs 2,345 per sq.ft. The 2023 revision saw an increase to Rs 3,500 per sq.ft, and the current 2024 revision has further increased it to Rs 3,900 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

The changes between revisions show a +11% increase from 2023 to 2024, a +49% increase from 2017 to 2023, and a -33% decrease from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by +11%.

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, making the 2024 figure for Kazura Garden 5th Cross Street above that median.

• Kazura Garden 4th Cross Street: Rs 3,900 per sq.ft (2024)
• Kazura Garden 6th Cross Street: Rs 3,900 per sq.ft (2024)
• Kazura Garden 3rd Cross Street: Rs 3,900 per sq.ft (2024)
• Kazura Garden 2nd Pirathana Salai: Rs 3,900 per sq.ft (2024)
• Kazura Garden 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Kazura Garden 1st Pirathana Salai: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kazura Garden 5th Cross Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 39,00,000. The stamp duty at 7% amounts to Rs 2,73,000, and the registration fee at 2% is Rs 78,000, totaling Rs 3,51,000. 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 details.

Which Sub Registrar Office covers Kazura Garden 5th Cross Street?

The Kazura Garden 5th 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, understanding the guideline value helps both parties ensure compliance with the legal requirements for registration. It is essential for buyers to be aware of these values to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Kazura Garden 5th Cross Street?

The current guideline value of Kazura Garden 5th Cross Street 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 seen several changes: it was Rs 3,500 per sq.ft in 2012, decreased to Rs 2,345 per sq.ft in 2017, increased to Rs 3,500 per sq.ft in 2023, and is now Rs 3,900 per sq.ft in 2024.

What is the land classification for Kazura Garden 5th Cross Street?

Kazura Garden 5th Cross Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 3,900 per sq.ft incurs a total fee of Rs 3,51,000.

Where can I find the Sub Registrar Office for Kazura Garden 5th Cross Street?

The Sub Registrar Office covering Kazura Garden 5th Cross Street is the Neelankarai SRO, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.