Guideline Value for Greater Kailash 6th Cross Street

Greater Kailash 6th Cross Street guideline value

The current guideline value of Greater Kailash 6th 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 6th Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase in the 2024 revision, rising to Rs 1,600 per sq.ft, which is a 59% increase from the 2017 figure. The register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. The current guideline value of Rs 1,600 per sq.ft reflects the most recent update and is indicative of the current valuation for this property.

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 6th Cross Street is below this median.

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

Stamp duty and registration fee for property in Greater Kailash 6th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to 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 duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Greater Kailash 6th Cross Street?

The Greater Kailash 6th 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, under 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 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 government receives the appropriate revenue from stamp duty and registration fees.

When buyers or sellers engage in property transactions, the guideline value is used to calculate the applicable fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Greater Kailash 6th Cross Street?

The current guideline value of Greater Kailash 6th 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 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. The overall change from 2012 to 2024 is an increase of 7%.

What is the land classification for Greater Kailash 6th Cross Street?

Greater Kailash 6th Cross Street is classified as Residential Class II Type - I, indicating its designation for residential use.

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 6th Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.