Guideline Value for Hot Kins Road

Hot Kins Road guideline value

The current guideline value of Hot Kins Road is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Siruvallur village and falls under the Sembiam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Hot Kins Road has changed

The guideline value for Hot Kins Road has seen several revisions over the years. The earliest recorded figure in the register is from 2002, with a value of Rs 357 per sq.ft. This increased to Rs 392 per sq.ft in 2003, marking a change of +10%. By 2007, the value rose significantly to Rs 1,000 per sq.ft, reflecting an increase of +155%. In 2012, the value reached Rs 1,800 per sq.ft, which was an increase of +80% from the previous revision. However, this figure dropped to Rs 1,206 per sq.ft in 2017, showing a decrease of -33%.

In the subsequent revisions, the guideline value increased again to Rs 1,800 per sq.ft in 2023, and then to Rs 1,900 per sq.ft in 2024, representing a rise of +6%. Overall, from 2002 to 2024, the guideline value has increased by +432%.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,900 per sq.ft, which is equal to the current guideline value of Hot Kins Road.

• Gowtham Chand Lane: Rs 1,900 per sq.ft (2024)
• Govindarajulu Street: Rs 1,900 per sq.ft (2024)
• Govindarajulu Lane: Rs 1,600 per sq.ft (2024)
• Govardhan Doss Street: Rs 1,900 per sq.ft (2024)
• Jagannatha Colony (Foxen St.): Rs 2,800 per sq.ft (2024)
• Francis Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Hot Kins Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, while the registration fee at 2% would be Rs 38,000. Together, the total cost for these fees would be Rs 1,71,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Hot Kins Road?

The Sub Registrar Office that covers Hot Kins Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Siruvallur

The guideline value is a crucial factor in the registration process when buying or selling property in Siruvallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to facilitate a smooth registration process.

When a property is sold, the guideline value is used to calculate the applicable duties, which can significantly impact the overall cost of the transaction. 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 Hot Kins Road?

The current guideline value of Hot Kins Road is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 357 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, showing an overall increase of +432% over the years.

What are the stamp duty rates for property in Hot Kins Road?

The stamp duty for property in Hot Kins Road is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Hot Kins Road located?

The Sub Registrar Office for Hot Kins Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Hot Kins Road?

The land classification for Hot Kins Road is Residential Class III Type - I, which indicates the type of development permissible in this area.