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Guideline Value

Corporate

Guideline Value for NEW KUMARAN NAGAR 1ST STREET (NEAR CANAL)

₹3300/sq.ft.

The guideline value for New Kumaran Nagar 1st Street (near Canal) in Sholinganallur - 1 village (Neelankarai SRO, Chennai zone) is Rs 3300 per sq.ft, effective 1 July 2024. It was Rs 3000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sholinganallur - 1

Village

Neelankarai

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹3300 /sq.ft.
From 1-4-2023 ₹3000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2010 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
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 New Kumaran Nagar 1st Street (near Canal)

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New Kumaran Nagar 1st Street (Near Canal) guideline value

The current guideline value of New Kumaran Nagar 1st Street (Near Canal) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of New Kumaran Nagar 1st Street (Near Canal) has changed

The guideline value for New Kumaran Nagar 1st Street (Near Canal) has undergone several revisions over the years. The oldest recorded figure is from the 2017 revision, which was Rs 2,010 per sq.ft. This increased to Rs 3,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which indicates that New Kumaran Nagar 1st Street (Near Canal) is above the median value.

Stamp duty and registration fee for property in New Kumaran Nagar 1st Street (Near Canal)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the 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 assistance.

Which Sub Registrar Office covers New Kumaran Nagar 1st Street (Near Canal)?

The Sub Registrar Office that covers New Kumaran Nagar 1st Street (Near Canal) 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 Sholinganallur - 1

The guideline value is a crucial factor when buying or selling property in Sholinganallur - 1, as it determines the stamp duty and registration fees applicable during the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is important for legal and financial purposes. It is advisable for buyers and sellers to be familiar with the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of New Kumaran Nagar 1st Street (Near Canal)?

The current guideline value of New Kumaran Nagar 1st Street (Near Canal) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024, which is an overall increase of 64%.

What are the stamp duty rates for property in this area?

The stamp duty rate for property transactions in New Kumaran Nagar 1st Street (Near Canal) is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Neelankarai Sub Registrar Office?

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

What is the median guideline value for streets in Sholinganallur - 1?

The median guideline value for streets in Sholinganallur - 1 is Rs 2,200 per sq.ft, which indicates that New Kumaran Nagar 1st Street (Near Canal) is above this median value.