Guideline Value for NEW KUMARAN NAGAR 7th CROSS STREET

NEW KUMARAN NAGAR 7th CROSS STREET guideline value

The current guideline value for NEW KUMARAN NAGAR 7th CROSS STREET 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, classified as Residential Class II Type - I.

How the guideline value of NEW KUMARAN NAGAR 7th CROSS STREET has changed

The guideline value for NEW KUMARAN NAGAR 7th CROSS STREET has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a 10% increase from the 2023 revision of Rs 3,000 per sq.ft. Prior to that, in 2017, the guideline value was Rs 2,010 per sq.ft, marking a significant increase of 49% over the six-year period leading up to 2023. The overall increase from 2017 to 2024 is 64%.

It is important to note that the register does not contain figures for the years 2002, 2003, 2007, and 2012 for this street. This lack of data means we cannot track changes during those years. The earlier revisions show a clear upward trend in the guideline value, reflecting the changes from Rs 2,010 per sq.ft in 2017 to the current Rs 3,300 per sq.ft in 2024.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, indicating that NEW KUMARAN NAGAR 7th CROSS STREET's 2024 figure is above this median.

• NEW KUMARAN NAGAR 5th CROSS STREET: Rs 3,300 per sq.ft (2024)
• NEW KUMARAN NAGAR 8th CROSS STREET: Rs 3,300 per sq.ft (2024)
• NEW KUMARAN NAGAR 4th CROSS STREET: Rs 3,300 per sq.ft (2024)
• NEW KUMARAN NAGAR 9th CROSS STREET: Rs 3,300 per sq.ft (2024)
• New Kumaran Nagar Main Road (Near Canal): Rs 3,300 per sq.ft (2024)
• New Kumaran Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in NEW KUMARAN NAGAR 7th 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, while the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees 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 7th CROSS STREET?

The Sub Registrar Office that covers NEW KUMARAN NAGAR 7th 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 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, both the buyer and seller must consider the guideline value, as it can affect the overall costs involved in the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for NEW KUMARAN NAGAR 7th CROSS STREET?

The current guideline value for NEW KUMARAN NAGAR 7th 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 by 64%, rising from Rs 2,010 per sq.ft to the current Rs 3,300 per sq.ft in 2024.

What was the guideline value in 2023?

The guideline value for NEW KUMARAN NAGAR 7th CROSS STREET in 2023 was Rs 3,000 per sq.ft.

Is there any data for the years 2002, 2003, 2007, and 2012?

The register does not contain any figures for NEW KUMARAN NAGAR 7th CROSS STREET for the years 2002, 2003, 2007, and 2012.

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.