Guideline Value for Greater Kailash 3rd Cross Street

Greater Kailash 3rd Cross Street guideline value

The current guideline value of Greater Kailash 3rd 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, and falls under the Residential Class II Type - I land classification.

How the guideline value of Greater Kailash 3rd Cross Street has changed

Looking at the historical revisions, the guideline value for Greater Kailash 3rd Cross Street has remained at Rs 1,500 per sq.ft from the 2012 revision until the 2023 revision. The 2024 revision saw an increase to Rs 1,600 per sq.ft, marking a 7% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. The consistency in the guideline value from 2012 to 2023 indicates stability before the recent adjustment in 2024.

Guideline values in Madambakkam

In Madambakkam, there are a total of 1151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing the 2024 figure for Greater Kailash 3rd Cross Street below this median.

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

Stamp duty and registration fee for property in Greater Kailash 3rd 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 costs together to 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Greater Kailash 3rd Cross Street?

The Greater Kailash 3rd 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 in property transactions in Madambakkam, as it is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to calculate the associated costs accurately.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used for calculating stamp duty. This ensures that the government receives appropriate revenue based on the value of the transaction.

Frequently asked questions

What is the current guideline value for Greater Kailash 3rd Cross Street?

The current guideline value for Greater Kailash 3rd 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, marking a 7% increase from the previous year.

What is the median guideline value for streets in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft, which is higher than the current guideline value for Greater Kailash 3rd Cross Street.

What are the stamp duty and registration fees for property in Greater Kailash 3rd Cross Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 16,00,000, leading to a stamp duty of Rs 1,12,000 and a registration fee of Rs 32,000, totaling Rs 1,44,000.

Which office handles registrations for Greater Kailash 3rd Cross Street?

The Selaiyur Sub Registrar Office handles registrations for Greater Kailash 3rd Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.