Guideline Value for Kumaraguru Avenue 6th Cross Street

Kumaraguru Avenue 6th Cross Street guideline value

The current guideline value of Kumaraguru Avenue 6th Cross Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village and falls under the Neelankarai SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kumaraguru Avenue 6th Cross Street has changed

The guideline value for Kumaraguru Avenue 6th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 1,500 per sq.ft. In 2017, it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, which is a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,700 per sq.ft, reflecting an increase of 13% from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that have 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, indicating that Kumaraguru Avenue 6th Cross Street's 2024 figure is below this median.

• Kumaraguru Avenue 7th Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 8th Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 5th Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 9th Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue Extn.,: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue Main Road: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaraguru Avenue 6th 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, bringing the total cost for these fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kumaraguru Avenue 6th Cross Street?

The Sub Registrar Office that covers Kumaraguru Avenue 6th 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay 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 6th Cross Street?

The current guideline value of Kumaraguru Avenue 6th 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 1,700 per sq.ft in 2024, with various increments and decrements in between.

What is the median guideline value in Neelankarai?

The median guideline value in Neelankarai is Rs 2,200 per sq.ft, while Kumaraguru Avenue 6th Cross Street's value is below this median.

What are the stamp duty and registration fees for a property 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.

Where is the Sub Registrar Office for Kumaraguru Avenue 6th Cross 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.