Guideline Value for EMPIRE CITY PART-I -TO -IV

Empire City Part-I -To -IV guideline value

The current guideline value for Empire City Part-I -To -IV in Kakkalur village is Rs 626 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Tiruvallur Joint 1 SRO and is classified as Residential Class II Type - III.

How the guideline value of Empire City Part-I -To -IV has changed

Since the 2012 revision, the guideline value has seen various changes. In 2012, the guideline value was Rs 625 per sq.ft, which decreased to Rs 419 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 626 per sq.ft. The 2023 revision also maintained the same value of Rs 626 per sq.ft for 2024, indicating no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the values from 2012 to 2024, the guideline value has remained unchanged at Rs 626 per sq.ft.

Guideline values in Kakkalur

Kakkalur village has a total of 133 streets under the Tiruvallur Joint 1 SRO, with the 2024 guideline values ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 626 per sq.ft, which aligns with the value for Empire City Part-I -To -IV.

• Empire Avenue: Rs 626 per sq.ft (2024)
• Gaingai Main Street/ Street: Rs 626 per sq.ft (2024)
• Ganapathy Street: Rs 626 per sq.ft (2024)
• Ganesh Vista Nagar: Rs 626 per sq.ft (2024)
• Dhanraja Nagar: Rs 626 per sq.ft (2024)
• Gangai Street: Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in Empire City Part-I -To -IV

For a 1,000 sq.ft plot at the current guideline value of Rs 626 per sq.ft, the total guideline value amounts to Rs 6,26,000. The applicable stamp duty at 7% would be Rs 43,820, while the registration fee at 2% would be Rs 12,520, leading to a total of Rs 56,340. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Empire City Part-I -To -IV?

The Sub Registrar Office that covers Empire City Part-I -To -IV is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kakkalur. It serves as a benchmark for determining the minimum value at which a property can be registered. This means that the registration of the property will be based on the guideline value or the sale price, whichever is higher.

When a buyer approaches the registration office, the guideline value helps in calculating the stamp duty and registration fees. This ensures that all transactions are conducted fairly and transparently, adhering to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Empire City Part-I -To -IV?

The current guideline value for Empire City Part-I -To -IV is Rs 626 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has seen a decrease from Rs 625 per sq.ft in 2012 to Rs 419 per sq.ft in 2017, followed by an increase back to Rs 626 per sq.ft in 2023 and 2024.

What is the land classification for Empire City Part-I -To -IV?

Empire City Part-I -To -IV is classified as Residential Class II Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Empire City Part-I -To -IV is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,26,000, the stamp duty at 7% would be Rs 43,820.