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Guideline Value

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Guideline Value for NEW KUMARAN NAGAR 3RD STREET

₹3300/sq.ft.

The guideline value for New Kumaran Nagar 3rd Street 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 3rd Street

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New Kumaran Nagar 3rd Street guideline value

The current guideline value of New Kumaran Nagar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of New Kumaran Nagar 3rd Street has changed

In the 2017 revision, the guideline value was Rs 2,010 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% increase over the six-year period. The most recent revision in 2024 saw another increase of 10%, bringing the current value to Rs 3,300 per sq.ft.

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 in the register for this street.

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 for these streets is Rs 2,200 per sq.ft, making the guideline value of New Kumaran Nagar 3rd Street above the median.

Stamp duty and registration fee for property in New Kumaran Nagar 3rd Street

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 is charged at 7%, which totals Rs 2,31,000, and the registration fee at 2% amounts to Rs 66,000. Together, the total cost for stamp duty and registration fee is Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers New Kumaran Nagar 3rd Street?

The New Kumaran Nagar 3rd Street falls under 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 Sholinganallur - 1

The guideline value plays a crucial role in the registration process of property transactions. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property in Sholinganallur - 1, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the sale price, which ensures compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of New Kumaran Nagar 3rd Street?

The current guideline value of New Kumaran Nagar 3rd 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 changed from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the stamp duty rate for property in New Kumaran Nagar 3rd Street?

The stamp duty rate for property in New Kumaran Nagar 3rd Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

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

What should I consider when calculating registration fees?

When calculating registration fees, it is important to consider both the stamp duty and the registration fee, which is charged at 2% of the guideline value or sale price. The total cost will depend on the higher of these two amounts.