Guideline Value for KAIKKANKUPPAM - 1st Cross Street

KAIKKANKUPPAM - 1st Cross Street guideline value

The current guideline value of KAIKKANKUPPAM - 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of KAIKKANKUPPAM - 1st Cross Street has changed

The guideline value for KAIKKANKUPPAM - 1st Cross Street has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 3,000 per sq.ft. This was followed by a decrease in 2017 to Rs 2,010 per sq.ft, marking a significant drop of 33%. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, reflecting a rise of 64% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, placing KAIKKANKUPPAM - 1st Cross Street below this median.

• KAIKKANKUPPAM - 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• KAIKKANKUPPAM - 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• KAIKKANKUPPAM - 4th Cross Street: Rs 3,300 per sq.ft (2024)
• KAIKKANKUPPAM - 5th Cross Street: Rs 3,300 per sq.ft (2024)
• KAIKKANKUPPAM - 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Kaikkankuppam - Appar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KAIKKANKUPPAM - 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information on fees applicable to your property transaction.

Which Sub Registrar Office covers KAIKKANKUPPAM - 1st Cross Street?

The KAIKKANKUPPAM - 1st Cross Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more details, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Valasaravakkam. It is used as a basis for calculating the stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for KAIKKANKUPPAM - 1st Cross Street?

The current guideline value for KAIKKANKUPPAM - 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, and then increased to Rs 3,300 per sq.ft in 2024. Overall, there has been a 10% increase from 2012 to 2024.

What is the land classification for KAIKKANKUPPAM - 1st Cross Street?

The land classification for KAIKKANKUPPAM - 1st Cross Street is Residential Class II Type - II.

Where can I find the registration office for KAIKKANKUPPAM - 1st Cross Street?

The registration office for KAIKKANKUPPAM - 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in KAIKKANKUPPAM - 1st Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.