Guideline Value for Greater Kailash 1st Cross Street

Greater Kailash 1st Cross Street guideline value

The current guideline value of Greater Kailash 1st Cross Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class II Type - I.

How the guideline value of Greater Kailash 1st Cross Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 1,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,600 per sq.ft, reflecting a 7% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 for this street in the register.

Guideline values in Madambakkam

Madambakkam has a total of 1151 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in the village is Rs 2,400 per sq.ft, making the 2024 guideline value of Greater Kailash 1st Cross Street below that median.

• Greater Kailash 1st Street: Rs 1,600 per sq.ft (2024)
• Greater Kailash 2nd Cross Street: Rs 1,600 per sq.ft (2024)
• Greater Kailash 2nd Street: Rs 1,600 per sq.ft (2024)
• Greater Kailash 3rd Cross Street: Rs 1,600 per sq.ft (2024)
• Greater Kailash 3rd Street: Rs 1,600 per sq.ft (2024)
• Greater Kailash 4th Cross Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Greater Kailash 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost to Rs 1,44,000. It is essential 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 precise calculations.

Which Sub Registrar Office covers Greater Kailash 1st Cross Street?

The Greater Kailash 1st Cross Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on it.

When a property is sold, the buyer pays the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Greater Kailash 1st Cross Street?

The current guideline value of Greater Kailash 1st Cross Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft from 2012 to 2023, before increasing to Rs 1,600 per sq.ft in 2024. Overall, there has been a 7% increase from the 2012 revision to the 2024 revision.

What is the land classification of Greater Kailash 1st Cross Street?

Greater Kailash 1st Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Greater Kailash 1st Cross Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.