Guideline Value for NEW KUMARAN NAGAR 5th CROSS STREET

NEW KUMARAN NAGAR 5th CROSS STREET guideline value

The current guideline value for NEW KUMARAN NAGAR 5th CROSS STREET is Rs 3,300 per sq.ft. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of NEW KUMARAN NAGAR 5th CROSS STREET has changed

The guideline value for NEW KUMARAN NAGAR 5th CROSS STREET has seen several revisions over the years. The most recent revision took place in 2024, where the value was set at Rs 3,300 per sq.ft, an increase of 10% from Rs 3,000 per sq.ft in the 2023 revision. Prior to that, in 2017, the value was Rs 2,010 per sq.ft, marking a significant increase of 49% to the 2023 figure. The overall change from 2017 to 2024 is an increase of 64%.

It is important to note that the guideline value register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Thus, the first recorded value is from 2017.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are a total of 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 among these streets is Rs 2,200 per sq.ft, placing the 2024 guideline value of NEW KUMARAN NAGAR 5th CROSS STREET above this median.

• NEW KUMARAN NAGAR 4th CROSS STREET: Rs 3,300 per sq.ft (2024)
• NEW KUMARAN NAGAR 7th CROSS STREET: Rs 3,300 per sq.ft (2024)
• New Kumaran Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• NEW KUMARAN NAGAR 8th CROSS STREET: Rs 3,300 per sq.ft (2024)
• NEW KUMARAN NAGAR 3rd CROSS STREET: Rs 3,300 per sq.ft (2024)
• NEW KUMARAN NAGAR 9th CROSS STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in NEW KUMARAN NAGAR 5th 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 the 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 5th CROSS STREET?

The Sub Registrar Office that covers NEW KUMARAN NAGAR 5th 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 is a crucial factor when registering property transactions in Sholinganallur - 1. It helps determine the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is used to assess the official value of the property, ensuring that the transaction is recorded accurately. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of NEW KUMARAN NAGAR 5th CROSS STREET?

The current guideline value of NEW KUMARAN NAGAR 5th CROSS STREET is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much 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, marking an overall increase of 64% over this period.

What is the land classification for NEW KUMARAN NAGAR 5th CROSS STREET?

NEW KUMARAN NAGAR 5th CROSS STREET is classified as Residential Class II Type - I.

Which office handles property registrations for this street?

The Neelankarai Sub Registrar Office is responsible for handling property registrations for NEW KUMARAN NAGAR 5th CROSS STREET.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.