Guideline Value for Kumaraguru Street

Kumaraguru Street guideline value

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

How the guideline value of Kumaraguru Street has changed

The guideline value of Kumaraguru Street has seen significant changes over the years. In 2002, the value was Rs 77 per sq.ft, which increased to Rs 115 per sq.ft in 2003. Following this, the value surged to Rs 500 per sq.ft in 2007, marking a 335% increase. The 2012 revision saw the value rise to Rs 1,500 per sq.ft, reflecting a 200% increase from the previous figure. However, this was followed by a decrease to Rs 1,005 per sq.ft in 2017, a decline of 33%. The guideline value then increased to Rs 1,500 per sq.ft in 2023, before reaching the current value of Rs 1,700 per sq.ft in 2024, which is a 13% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2108%. The register has no figures for the years not listed in the revisions.

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. Kumaraguru Street's 2024 figure is below this median.

• Kumaraguru Avenue Main Road: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue Extn.,: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 9th Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 8th Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 7th Cross Street: Rs 1,700 per sq.ft (2024)
• Kumaraguru Avenue 6th Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kumaraguru Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 17,00,000. The stamp duty at 7% amounts to Rs 1,19,000, and the registration fee at 2% is Rs 34,000, bringing the total to Rs 1,53,000. 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 Street?

The Sub Registrar Office that covers Kumaraguru Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, visit find your SRO.

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

The guideline value is crucial in determining the stamp duty and registration fees when buying or selling property in Neelankarai. It serves as the basis for calculating the financial obligations associated with property transactions.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to compute the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kumaraguru Street?

The current guideline value of Kumaraguru 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 significantly from Rs 77 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 2108%.

What is the land classification for Kumaraguru Street?

Kumaraguru Street falls under the Residential Class III Type - I land classification.

What are the stamp duty and registration fees for property in Kumaraguru Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees amount to Rs 1,53,000, based on the current guideline value of Rs 17,00,000.

Where is the Sub Registrar Office located for Kumaraguru Street?

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