Guideline Value for Greater Kailash 5th Street

Greater Kailash 5th Street guideline value

The current guideline value of Greater Kailash 5th 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 5th Street has changed

The guideline value for Greater Kailash 5th Street has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the latest 2024 revision has increased the value to Rs 1,600 per sq.ft, reflecting a significant increase of 59% from the 2017 figure.

Overall, when comparing the 2012 and 2024 revisions, there has been a slight increase of 7%. It is important to note that the guideline register has no figures for the years 2023, 2007, 2003, and 2002 for this 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. The median value for these streets is Rs 2,400 per sq.ft, indicating that the guideline value for Greater Kailash 5th Street is below the median.

• Greater Kailash 5th Cross Street: Rs 1,600 per sq.ft (2024)
• Greater Kailash 6th Cross Street: Rs 1,600 per sq.ft (2024)
• Greater Kailash 4th Street: Rs 1,600 per sq.ft (2024)
• Greater Kailash 6th Street: Rs 1,600 per sq.ft (2024)
• Greater Kailash 4th Cross Street: Rs 1,600 per sq.ft (2024)
• Greater Kailash 7th Cross Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Greater Kailash 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. This brings the total cost for stamp duty and registration fees to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Greater Kailash 5th Street?

The Greater Kailash 5th Street falls under the jurisdiction of 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 is a crucial factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the current market conditions as set by the Registration Department.

Frequently asked questions

What is the current guideline value of Greater Kailash 5th Street?

The current guideline value of Greater Kailash 5th 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 1,005 per sq.ft in 2017, and then increased to Rs 1,600 per sq.ft in 2024.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft, which is higher than the current value for Greater Kailash 5th Street.

What are the stamp duty rates applicable?

The stamp duty rate applicable in this area is 7%, while the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.