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Guideline Value

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Guideline Value for NEW KUMARAN NAGAR 8th CROSS STREET

₹3300/sq.ft.

The guideline value for New Kumaran Nagar 8th 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 8th Cross Street

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NEW KUMARAN NAGAR 8th CROSS STREET guideline value

The current guideline value of NEW KUMARAN NAGAR 8th 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. The land classification for this area is Residential Class II Type - I.

How the guideline value of NEW KUMARAN NAGAR 8th CROSS STREET has changed

The guideline value for NEW KUMARAN NAGAR 8th CROSS STREET has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is an increase of 10% from the previous year's value of Rs 3,000 per sq.ft in 2023. Before that, in 2017, the guideline value was Rs 2,010 per sq.ft, marking a significant increase of 49% to reach the 2023 figure. 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.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 64%. This reflects the changes in property valuation over the years, highlighting the growth from Rs 2,010 per sq.ft in 2017 to the current Rs 3,300 per sq.ft.

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 for this area is Rs 2,200 per sq.ft, positioning NEW KUMARAN NAGAR 8th CROSS STREET above this median.

Stamp duty and registration fee for property in NEW KUMARAN NAGAR 8th 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 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, making the total cost for these fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers NEW KUMARAN NAGAR 8th CROSS STREET?

The Sub Registrar Office that covers NEW KUMARAN NAGAR 8th 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. For more information, you can find your SRO.

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 serves as a benchmark for determining the minimum price at which property transactions can be registered, ensuring transparency and consistency in property valuations.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property in the current market.

Frequently asked questions

What is the current guideline value for NEW KUMARAN NAGAR 8th CROSS STREET?

The current guideline value for NEW KUMARAN NAGAR 8th 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 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 for properties in NEW KUMARAN NAGAR 8th CROSS STREET?

The stamp duty for properties in NEW KUMARAN NAGAR 8th CROSS STREET is calculated at 7% of the guideline value or sale price, whichever is higher.

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.

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 8th CROSS STREET's value being above this median.