Guideline Value for Kumaraguru Avenue 10th Cross Street

Kumaraguru Avenue 10th Cross Street guideline value

The current guideline value of Kumaraguru Avenue 10th Cross Street is Rs 1,700 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 III Type - I.

How the guideline value of Kumaraguru Avenue 10th Cross Street has changed

The guideline value for Kumaraguru Avenue 10th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,500 per sq.ft in 2023, and finally, it reached Rs 1,700 per sq.ft in the 2024 revision. The changes from 2012 to 2024 show an overall increase of 13%.

From 2017 to 2023, there was a significant increase of 49%, while the value decreased by 33% from 2012 to 2017. The most recent revision from 2023 to 2024 reflects a 13% increase. It is important to note that 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, 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, making the 2024 figure for Kumaraguru Avenue 10th Cross Street below this median.

• Kumaraguru Avenue 11th Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 1st Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 2nd Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 3rd Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 4th Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 5th Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaraguru Avenue 10th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kumaraguru Avenue 10th Cross Street?

The Sub Registrar Office that covers Kumaraguru Avenue 10th 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 in the registration process of property transactions in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kumaraguru Avenue 10th Cross Street?

The current guideline value of Kumaraguru Avenue 10th Cross Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the median guideline value in Neelankarai?

The median guideline value in Neelankarai is Rs 2,200 per sq.ft, which is above the current value of Kumaraguru Avenue 10th Cross Street.

What are the stamp duty rates applicable?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable.

Which office handles property registrations for this street?

The Neelankarai Sub Registrar Office is responsible for handling property registrations for Kumaraguru Avenue 10th Cross Street.