Guideline Value for Greater Kailash Street

Greater Kailash Street guideline value

The current guideline value of Greater Kailash 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 Street has changed

The guideline value for Greater Kailash Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, an increase of 59% from Rs 1,005 per sq.ft in the 2017 revision. The 2012 revision recorded a value of Rs 1,500 per sq.ft, which reflects a decrease of 33% from the 2017 figure. Notably, the register has no figure for this street in the years 2023, 2007, 2003, and 2002.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. This indicates a fluctuation in values over the years, with the most significant change occurring between 2017 and 2024.

Guideline values in Madambakkam

In Madambakkam, there are 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 value for these streets is Rs 2,400 per sq.ft, making the guideline value for Greater Kailash Street below this median.

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

Stamp duty and registration fee for property in Greater Kailash 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 cost for these fees 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.

You can use the stamp duty and registration fee calculator for more information on calculating these fees.

Which Sub Registrar Office covers Greater Kailash Street?

The Sub Registrar Office covering Greater Kailash Street is 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 is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, this value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with legal requirements.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. Accurate knowledge of this value can help in budgeting for additional expenses related to property registration.

Frequently asked questions

What is the current guideline value of Greater Kailash Street?

The current guideline value of Greater Kailash 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 to Rs 1,600 per sq.ft in 2024, reflecting a 59% increase from 2017 to 2024.

What is the land classification for Greater Kailash Street?

Greater Kailash Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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 are stamp duty and registration fees calculated?

Stamp duty is charged at 7% and the registration fee at 2% on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,600 per sq.ft, the total fees would amount to Rs 1,44,000.