Guideline Value for KADAKUTTAI MAIN STREET

Kadakuttai Main Street guideline value

The current guideline value of Kadakuttai Main 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 Main Street has changed

The guideline value for Kadakuttai Main Street has undergone several revisions over the years. The 2017 revision recorded a guideline value of Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision. The latest revision in 2024 has set the guideline value at Rs 1,700 per sq.ft, marking a 13% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 69%.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. The changes observed between the revisions highlight a significant increase of 49% from 2017 to 2023, followed by a 13% rise from 2023 to 2024.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are a total of 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. Kadakuttai Main Street's current guideline value is below this median.

• Kadakuttai 1st 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 Main 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, while the registration fee at 2% would be Rs 34,000, bringing the total cost for these fees to Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kadakuttai Main Street?

The Sub Registrar Office that covers Kadakuttai Main 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 is a crucial factor when registering property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value as it impacts the overall cost of the transaction. Buyers should be aware that the guideline value may influence their financial planning, as it affects the stamp duty and registration fees payable during the registration process.

Frequently asked questions

What is the current guideline value of Kadakuttai Main Street?

The current guideline value of Kadakuttai Main 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 changed from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024. This represents an overall increase of 69% from 2017 to 2024.

What are the other streets in Sholinganallur - 1 with the same guideline value?

Other streets in Sholinganallur - 1 with the same guideline value of Rs 1,700 per sq.ft include Kadakuttai 1st Street, Kadakuttai Main Street Extension, and Kaladai Nagar.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Kadakuttai Main Street?

Stamp duty for properties in Kadakuttai Main Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.