Guideline Value for SRI NEMINATH NAGAR

Sri Neminath Nagar guideline value

The current guideline value of Sri Neminath Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kobarasanallur village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Sri Neminath Nagar has changed

The guideline value for Sri Neminath Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 1,500 per sq.ft. This was followed by a significant drop to Rs 1,005 per sq.ft in 2017. In 2023, the value increased to Rs 1,500 per sq.ft, and the latest revision in 2024 has set the value at Rs 1,650 per sq.ft.

Between the revisions, the changes are as follows: from 2012 to 2017, there was a decrease of 33%; however, from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kobarasanallur

Kobarasanallur village features 28 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,650 to Rs 4,180 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, placing the 2024 guideline value of Sri Neminath Nagar below this median.

• Sri Nagalakshmi Nagar: Rs 1,980 per sq.ft (2024)
• Sri Murugan Nagar: Rs 3,285 per sq.ft (2024)
• Sri Mookambikai Nagar: Rs 2,750 per sq.ft (2024)
• Sri Moogambigai Nagar Extn: Rs 2,750 per sq.ft (2024)
• Sri Devi Nagar: Rs 1,980 per sq.ft (2024)
• Sree Hari Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Neminath Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Neminath Nagar?

The Sub Registrar Office that covers Sri Neminath Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the property registration process in Kobarasanallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process adheres to the established legal framework.

Frequently asked questions

What is the current guideline value of Sri Neminath Nagar?

The current guideline value of Sri Neminath Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Sri Neminath Nagar?

Sri Neminath Nagar is classified as Residential Special Type - I.

Where can I find the registration office for Sri Neminath Nagar?

The registration office covering Sri Neminath Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. The higher of the guideline value or the sale price is considered for these calculations.