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Guideline Value

Corporate

Guideline Value for Kumaraguru Avenue 1st Cross Street

₹1700/sq.ft.

The guideline value for Kumaraguru Avenue 1st Cross Street in Neelankarai village (Neelankarai SRO, Chennai zone) is Rs 1700 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 13% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Neelankarai

Village

Neelankarai

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹1700 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Kumaraguru Avenue 1st Cross Street

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Kumaraguru Avenue 1st Cross Street guideline value

The current guideline value of Kumaraguru Avenue 1st 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 1st Cross Street has changed

The guideline value for Kumaraguru Avenue 1st Cross Street has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,500 per sq.ft in the 2023 revision, and further increased to the current rate of Rs 1,700 per sq.ft in 2024, marking a 13% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2012 to 2024 reflects a net increase of 13%. 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 that carry a 2024 guideline value, 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, which means that the 2024 guideline value for Kumaraguru Avenue 1st Cross Street is below this median.

Stamp duty and registration fee for property in Kumaraguru Avenue 1st 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 amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total cost for these fees Rs 1,53,000. It is important to note that 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 Kumaraguru Avenue 1st Cross Street?

The Sub Registrar Office that covers Kumaraguru Avenue 1st 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 when buying or selling property in Neelankarai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This system helps maintain a standard for property values in the area, facilitating fair transactions.

Frequently asked questions

What is the current guideline value of Kumaraguru Avenue 1st Cross Street?

The current guideline value of Kumaraguru Avenue 1st 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 increased 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 higher than the current value of Kumaraguru Avenue 1st Cross Street.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would be Rs 1,53,000.

Which office handles registrations for Kumaraguru Avenue 1st Cross Street?

The Neelankarai Sub Registrar Office handles registrations for Kumaraguru Avenue 1st Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.