Guideline Value for NEW KUMARAN NAGAR 1st CROSS STREET

NEW KUMARAN NAGAR 1st CROSS STREET guideline value

The current guideline value for NEW KUMARAN NAGAR 1st CROSS STREET is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Sholinganallur - 1 village under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of NEW KUMARAN NAGAR 1st CROSS STREET has changed

The guideline value for NEW KUMARAN NAGAR 1st CROSS STREET has seen significant changes over the years. From the 2017 revision, which was Rs 2,010 per sq.ft, it increased to Rs 3,000 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 brought the value to Rs 3,300 per sq.ft, a 10% increase from the previous year.

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

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value is Rs 2,200 per sq.ft, indicating that NEW KUMARAN NAGAR 1st CROSS STREET's 2024 value is above this median.

• New Kumaran Nagar 1st Cross Street (Main Street Extension): Rs 3,300 per sq.ft (2024)
• NEW KUMARAN NAGAR 10th CROSS STREET: Rs 3,300 per sq.ft (2024)
• New Kumaran Nagar 1st Street Extension: Rs 3,300 per sq.ft (2024)
• New Kumaran Nagar 1st Street (Near Canal): Rs 3,300 per sq.ft (2024)
• NEW KUMARAN NAGAR 2nd CROSS STREET: Rs 3,300 per sq.ft (2024)
• New Kumaran Nagar 2nd Street(Near Canal): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in NEW KUMARAN NAGAR 1st CROSS STREET

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. 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 NEW KUMARAN NAGAR 1st CROSS STREET?

The Sub Registrar Office that covers NEW KUMARAN NAGAR 1st 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 Sholinganallur - 1

The guideline value is an important factor during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers and sellers to be aware of these values to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value for NEW KUMARAN NAGAR 1st CROSS STREET?

The current guideline value for NEW KUMARAN NAGAR 1st CROSS STREET is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 64% over the seven years.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,97,000, which includes a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000.

Which Sub Registrar Office is responsible for this street?

The Neelankarai Sub Registrar Office is responsible for NEW KUMARAN NAGAR 1st CROSS STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Sholinganallur - 1?

The median guideline value in Sholinganallur - 1 is Rs 2,200 per sq.ft, with NEW KUMARAN NAGAR 1st CROSS STREET's 2024 value being above this median.