Guideline Value for 2ND CROSS STREET

2nd Cross Street guideline value

The current guideline value of 2nd Cross Street in Kilkaranai village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint II SRO and is classified as Residential Special Type - II.

How the guideline value of 2nd Cross Street has changed

In the 2012 revision, the guideline value was Rs 1,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft, marking a decline of 33%. Subsequently, the value rose significantly to Rs 1,000 per sq.ft in 2012, and then to Rs 1,000 per sq.ft in the 2023 revision, reflecting an increase of 49% over the six-year period.

With the latest 2024 revision, the guideline value increased by 10% to Rs 1,100 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kilkaranai

In Kilkaranai, there are 12 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 1,870 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is the same as the 2024 figure for 2nd Cross Street.

• 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Vivekantha Nagar: Rs 1,100 per sq.ft (2024)
• Thirukatchur Flats: Rs 1,320 per sq.ft (2024)
• School Street: Rs 1,100 per sq.ft (2024)
• Muthumariamman Koil Street: Rs 1,100 per sq.ft (2024)
• Mettu Street: Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that 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 information.

Which Sub Registrar Office covers 2nd Cross Street?

The 2nd Cross Street is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration of property transactions in Kilkaranai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these fees are based on the official valuation of the property rather than the sale price alone.

When buying or selling property, it is essential to be aware of the guideline value, as it directly impacts the financial obligations associated with the transaction. Buyers should ensure that they are prepared for the costs associated with registration based on this value.

Frequently asked questions

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

The current guideline value of 2nd Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for 2nd Cross Street?

2nd Cross Street is classified as Residential Special Type - II, indicating its suitability for residential development.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office for 2nd Cross Street located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.