Guideline Value for Greater Kailash 3rd Street

Greater Kailash 3rd Street guideline value

The current guideline value of Greater Kailash 3rd 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 is classified as Residential Class II Type - I.

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

In the 2012 revision, the guideline value was set at 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. The register has no figures for the years 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 consistent value from 2012 to 2023 indicates stability, while the recent increase marks a notable change in the guideline value for Greater Kailash 3rd Street.

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 3rd Street is below this median.

• Greater Kailash 3rd Cross Street: Rs 1,600 per sq.ft (2024)
• Greater Kailash 4th Cross Street: Rs 1,600 per sq.ft (2024)
• Greater Kailash 2nd Street: Rs 1,600 per sq.ft (2024)
• Greater Kailash 4th Street: Rs 1,600 per sq.ft (2024)
• Greater Kailash 2nd Cross Street: Rs 1,600 per sq.ft (2024)
• Greater Kailash 5th Cross Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Greater Kailash 3rd 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 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Greater Kailash 3rd Street?

The Greater Kailash 3rd 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 plays a crucial role during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and transparently.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction, based on the official valuation of the property.

Frequently asked questions

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

The current guideline value of Greater Kailash 3rd 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 changed from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, reflecting a 7% increase. The value remained unchanged at Rs 1,500 per sq.ft from 2012 to 2023.

What is the land classification of Greater Kailash 3rd Street?

Greater Kailash 3rd Street is classified as Residential Class II Type - I.

Where can I find the Selaiyur Sub Registrar Office?

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

How is stamp duty calculated for properties in Greater Kailash 3rd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000, leading to applicable duties and fees.