Guideline Value for K.J. Hospital 2nd Street

K.J. Hospital 2nd Street guideline value

The current guideline value of K.J. Hospital 2nd Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Sembulivaram village and falls under the Redhills SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of K.J. Hospital 2nd Street has changed

The guideline value for K.J. Hospital 2nd Street has seen several revisions over the years. The earliest recorded revision was in 2007, with a value of Rs 200 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, but then decreased to Rs 335 per sq.ft in 2017. The guideline value rose again to Rs 500 per sq.ft in 2023, and currently stands at Rs 550 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 175%. It is important to note that there are no recorded figures for the years 2002 and 2003 for this street.

Guideline values in Sembulivaram

In Sembulivaram, there are 16 streets under the Redhills SRO that carry a guideline value for 2024, ranging from Rs 550 to Rs 1,650 per sq.ft. The median guideline value for these streets is Rs 1,210 per sq.ft, indicating that K.J. Hospital 2nd Street's 2024 figure is below that median.

• K.J. Hospital 1st Street: Rs 550 per sq.ft (2024)
• K.J. Hospital Street: Rs 550 per sq.ft (2024)
• Moogambigai Nagar: Rs 1,105 per sq.ft (2024)
• Gnt Road: Rs 1,650 per sq.ft (2024)
• Eswaran Koil Street: Rs 1,210 per sq.ft (2024)
• Daffodil Garden: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in K.J. Hospital 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total costs to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.J. Hospital 2nd Street?

The K.J. Hospital 2nd Street is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Sembulivaram. It determines the minimum value at which a property can be registered, ensuring that all transactions are transparent and fair. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

When registering a property, the guideline value serves as a basis for calculating the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for K.J. Hospital 2nd Street?

The current guideline value for K.J. Hospital 2nd Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting a total increase of 175% over the years.

What are the stamp duty and registration fees for property in K.J. Hospital 2nd Street?

For a property valued at Rs 5,50,000, the stamp duty is Rs 38,500 and the registration fee is Rs 11,000, totaling Rs 49,500.

Which office handles property registrations for K.J. Hospital 2nd Street?

The Redhills Sub Registrar Office handles property registrations for K.J. Hospital 2nd Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of a property and is essential for calculating the stamp duty and registration fees during property transactions.