Guideline Value for BIG STREET

Big Street guideline value

The current guideline value of Big Street in Kilkattalai village is Rs 2,530 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Big Street has changed

The guideline value for Big Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which then decreased to Rs 1,541 per sq.ft in the 2017 revision. Following this, the value significantly increased to Rs 2,300 per sq.ft in the 2023 revision, and finally, it rose to Rs 2,530 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kilkattalai

In Kilkattalai, there are 194 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, which is equal to the current guideline value of Big Street.

• Bluebell School Main Road: Rs 2,160 per sq.ft (2024)
• Boobathi Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Boobathi Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Boobathi Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Boobathi Nagar 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Boobathi Nagar 5th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Big Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, totaling Rs 2,27,700. It is important to note that the 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 further assistance.

Which Sub Registrar Office covers Big Street?

The Sub Registrar Office that covers Big Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kilkattalai. It is used to determine the stamp duty and registration fees that are applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that all property transactions are fairly assessed and that the necessary fees are collected based on the established guideline values.

Frequently asked questions

What is the current guideline value of Big Street?

The current guideline value of Big Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024.

What is the land classification for Big Street?

Big Street is classified as Residential Class I Type - II under the guideline value register.

What are the stamp duty and registration fees for property in Big Street?

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

Which office handles property registrations for Big Street?

The Pallavaram Sub Registrar Office handles property registrations for Big Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.