Guideline Value for SRI KUMARAN 2ND CROSS STREET

Sri Kumaran 2nd Cross Street guideline value

The current guideline value of Sri Kumaran 2nd Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Seevaram village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Kumaran 2nd Cross Street has changed

The guideline value for Sri Kumaran 2nd Cross Street has seen several revisions over the years. In 2007, the value was set at Rs 750 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure dropped to Rs 1,675 per sq.ft in 2017, before rising again to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, marking a 12% increase from the previous year.

In summary, the guideline value has experienced notable changes: from Rs 750 in 2007 to Rs 2,800 in 2024, an overall increase of 273%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Seevaram

In Seevaram village, there are 84 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,300 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, which is equal to the guideline value of Sri Kumaran 2nd Cross Street.

• Sri Kumaran 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Sri Kumaran 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Sri Kumaran 4th Cross Street: Rs 2,800 per sq.ft (2024)
• Sri Kumaran 5th Cross Street: Rs 2,800 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 2,800 per sq.ft (2024)
• Sri Kumaran Nagar Main Road: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kumaran 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty, charged at 7%, would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that 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 more details.

Which Sub Registrar Office covers Sri Kumaran 2nd Cross Street?

The Sub Registrar Office that covers Sri Kumaran 2nd Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Seevaram

The guideline value is a crucial reference point when buying or selling property in Seevaram. It is used to determine the stamp duty and registration fees that need to be paid during the transaction process.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Sri Kumaran 2nd Cross Street?

The current guideline value of Sri Kumaran 2nd Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 273% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office covers Sri Kumaran 2nd Cross Street?

The Neelankarai Sub Registrar Office covers Sri Kumaran 2nd Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the land classification for Sri Kumaran 2nd Cross Street?

Sri Kumaran 2nd Cross Street is classified as Residential Class II Type - I, indicating its zoning for residential use.