Guideline Value for Kumaraguru Avenue 4th Cross Street

Kumaraguru Avenue 4th Cross Street guideline value

The current guideline value of Kumaraguru Avenue 4th 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 falls under the Residential Class III Type - I land classification.

How the guideline value of Kumaraguru Avenue 4th Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and then rose again to Rs 1,700 per sq.ft in the 2024 revision, reflecting a 13% increase from the previous year. The register has no figure for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the value increased by 49%, and overall, from 2012 to 2024, there has been a 13% increase. The current guideline value of Rs 1,700 per sq.ft represents a notable change from the earlier revisions, particularly when considering the fluctuations over the years.

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, with a median value of Rs 2,200 per sq.ft. The guideline value of Kumaraguru Avenue 4th Cross Street is below this median.

• Kumaraguru Avenue 3rd Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 5th Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 2nd Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 6th Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 7th Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 8th Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaraguru Avenue 4th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the 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, totaling 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 also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kumaraguru Avenue 4th Cross Street?

The Sub Registrar Office that covers Kumaraguru Avenue 4th 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 is a crucial factor when registering property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value based on current market conditions.

When buying or selling property, the guideline value impacts the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kumaraguru Avenue 4th Cross Street?

The current guideline value of Kumaraguru Avenue 4th 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 are the stamp duty and registration fees for properties in this area?

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

Which Sub Registrar Office covers Kumaraguru Avenue 4th Cross Street?

The Neelankarai Sub Registrar Office covers Kumaraguru Avenue 4th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value for properties. It affects the calculation of stamp duty and registration fees, which are based on either the guideline value or the sale price, whichever is higher.