Guideline Value for Kumaraguru Avenue 2nd Cross Street

Kumaraguru Avenue 2nd Cross Street guideline value

The current guideline value of Kumaraguru Avenue 2nd 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 2nd Cross Street has changed

The guideline value for Kumaraguru Avenue 2nd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further rose to Rs 1,700 per sq.ft in the 2024 revision, marking a 13% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 13%. 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, indicating that Kumaraguru Avenue 2nd Cross Street's 2024 figure is below this median.

• Kumaraguru Avenue 1st Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 3rd Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 11th Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 10th 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 2nd 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 is Rs 17,00,000. The stamp duty, charged at 7%, amounts to Rs 1,19,000, while the registration fee at 2% is Rs 34,000. Together, the total cost for these fees is Rs 1,53,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Kumaraguru Avenue 2nd Cross Street?

The Sub Registrar Office that covers Kumaraguru Avenue 2nd 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 during property transactions in Neelankarai. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and legally within the framework set by the state.

It is essential for buyers and sellers to be aware of the current guideline value, as it can impact the overall cost of the transaction. Ensuring compliance with the guideline value helps in avoiding legal issues and ensures a smooth registration process.

Frequently asked questions

What is the current guideline value of Kumaraguru Avenue 2nd Cross Street?

The current guideline value of Kumaraguru Avenue 2nd 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 land classification of Kumaraguru Avenue 2nd Cross Street?

Kumaraguru Avenue 2nd Cross Street is classified as Residential Class III Type - I.

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

For a property valued at Rs 17,00,000, the stamp duty is Rs 1,19,000 and the registration fee is Rs 34,000, totaling Rs 1,53,000.

Where is the Sub Registrar Office for this street located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.