Guideline Value for KADAKUTTAI 1ST STREET

Kadakuttai 1st Street guideline value

The current guideline value of Kadakuttai 1st Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kadakuttai 1st Street has changed

The guideline value for Kadakuttai 1st Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft. This was followed by a significant increase to Rs 1,500 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 raised the value further to Rs 1,700 per sq.ft, representing a 13% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 69%. It is important to note that there are no figures available in the register for the years 2002, 2003, 2007, and 2012 for Kadakuttai 1st Street.

Guideline values in Sholinganallur - 1

In the village of Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Kadakuttai 1st Street below this median.

• Kadakuttai Main Street: Rs 1,700 per sq.ft (2024)
• Kadakuttai Main Street Extension: Rs 1,700 per sq.ft (2024)
• Kaladai Nagar: Rs 1,700 per sq.ft (2024)
• J.Nagar Lay Out: Rs 4,400 per sq.ft (2024)
• J.J.P. Reacity: Rs 2,200 per sq.ft (2024)
• Kalaingar Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kadakuttai 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kadakuttai 1st Street?

The Sub Registrar Office that covers Kadakuttai 1st Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in the registration process of property transactions in Sholinganallur - 1. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Buyers should ensure that they are informed about the guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Kadakuttai 1st Street?

The current guideline value of Kadakuttai 1st Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 69% over this period.

What is the median guideline value in Sholinganallur - 1?

The median guideline value for streets in Sholinganallur - 1 is Rs 2,200 per sq.ft, which is above the current value of Kadakuttai 1st Street.

What are the stamp duty and registration fees for properties in Kadakuttai 1st Street?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles the registration for Kadakuttai 1st Street?

The Neelankarai Sub Registrar Office handles the registration for Kadakuttai 1st Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.