Guideline Value for KABILAR STREET VGP SHANTHI NAGAR

Kabilar Street Vgp Shanthi Nagar guideline value

The current guideline value of Kabilar Street Vgp Shanthi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Kabilar Street Vgp Shanthi Nagar has changed

Over the years, the guideline value of Kabilar Street Vgp Shanthi Nagar has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was later decreased to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a change of 49%. The most recent revision in 2024 raised the guideline value to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Kabilar Street Vgp Shanthi Nagar. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, placing Kabilar Street Vgp Shanthi Nagar's 2024 figure above this median.

• Kakkanji Cross Street: Rs 1,320 per sq.ft (2024)
• Kakkanji Street: Rs 1,320 per sq.ft (2024)
• Kakkanji Street Extn: Rs 1,320 per sq.ft (2024)
• J.J. Nagar: Rs 2,200 per sq.ft (2024)
• Kalaivanar Street: Rs 1,650 per sq.ft (2024)
• Kalasekar Nagar: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Kabilar Street Vgp Shanthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty, charged at 7%, would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. The total cost for these fees would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kabilar Street Vgp Shanthi Nagar?

Kabilar Street Vgp Shanthi Nagar is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is bought or sold, the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher.

This ensures that the government receives appropriate revenue from property transactions. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Kabilar Street Vgp Shanthi Nagar?

The current guideline value of Kabilar Street Vgp Shanthi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers this street?

Kabilar Street Vgp Shanthi Nagar is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification of Kabilar Street Vgp Shanthi Nagar?

The land classification for Kabilar Street Vgp Shanthi Nagar is Residential Special Type - I.