Guideline Value for Greater Kailash 2nd Cross Street

Greater Kailash 2nd Cross Street guideline value

The current guideline value of Greater Kailash 2nd 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. The land classification for this area is Residential Class II Type - I.

How the guideline value of Greater Kailash 2nd Cross Street has changed

The guideline value for Greater Kailash 2nd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was again Rs 1,500 per sq.ft, but with the latest revision in 2024, it has increased to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

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

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value of Greater Kailash 2nd Cross Street is below this median.

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

For a plot of 1,000 sq.ft 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 is charged at 7%, resulting in Rs 1,12,000, while the registration fee at 2% amounts to Rs 32,000. Together, the total cost for stamp duty and registration fee is Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Greater Kailash 2nd Cross Street?

The Greater Kailash 2nd Cross Street is covered by 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 information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Madambakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Greater Kailash 2nd 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 and increased to Rs 1,600 per sq.ft in 2024. Overall, there has been a 7% increase from 2012 to 2024.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 16,00,000. The stamp duty at 7% amounts to Rs 1,12,000, and the registration fee at 2% is Rs 32,000, totaling Rs 1,44,000 for both fees.

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.

What is the land classification for Greater Kailash 2nd Cross Street?

The land classification for Greater Kailash 2nd Cross Street is Residential Class II Type - I, indicating its suitability for residential development.