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Guideline Value

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Guideline Value for NEW KUMARAN NAGAR 3rd CROSS STREET

₹3300/sq.ft.

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

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NEW KUMARAN NAGAR 3rd CROSS STREET guideline value

The current guideline value of NEW KUMARAN NAGAR 3rd CROSS 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. The land classification for this area is Residential Class II Type - I.

How the guideline value of NEW KUMARAN NAGAR 3rd CROSS STREET has changed

The guideline value for NEW KUMARAN NAGAR 3rd CROSS STREET has seen 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 2023, marking a significant rise of 49%. The most recent revision in 2024 brought the value to 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, with a median value of Rs 2,200 per sq.ft. The guideline value of NEW KUMARAN NAGAR 3rd CROSS STREET is above this median.

Stamp duty and registration fee for property in NEW KUMARAN NAGAR 3rd CROSS STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that stamp 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 NEW KUMARAN NAGAR 3rd CROSS STREET?

The Sub Registrar Office that covers NEW KUMARAN NAGAR 3rd 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 Sholinganallur - 1

The guideline value plays a crucial role in the registration process when buying or selling property in Sholinganallur - 1. It is used to determine the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and based on the officially recognized values.

Frequently asked questions

What is the current guideline value of NEW KUMARAN NAGAR 3rd CROSS STREET?

The current guideline value of NEW KUMARAN NAGAR 3rd CROSS STREET 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, marking an overall increase of 64%.

What is the stamp duty rate applicable in this area?

The stamp duty rate applicable in the area is 7%, which is calculated based on the higher of the guideline value or the sale price at the time of registration.

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.

How is the guideline value determined for properties in Sholinganallur - 1?

The guideline value for properties in Sholinganallur - 1 is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in the real estate market.