Guideline Value for KALAKKUTTAI MEDU 1ST CROSS STREET

Kalakkuttai Medu 1st Cross Street guideline value

The current guideline value for Kalakkuttai Medu 1st Cross 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 Kalakkuttai Medu 1st Cross Street has changed

In the revisions of the guideline value, the register shows no figures for the years 2002, 2003, 2007, 2012, and 2017 for Kalakkuttai Medu 1st Cross Street. The most recent figures are from 2023 and 2024, where the guideline value increased from Rs 1,500 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, marking a change of +13%.

Prior to the 2023 revision, there were no recorded figures for the aforementioned years. The 2024 revision reflects the current valuation, which is significant for property transactions in the area.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, indicating that Kalakkuttai Medu 1st Cross Street's value is below this median.

• Kalakkuttai Main Road Extension: Rs 1,700 per sq.ft (2024)
• Kalakkuttai Medu Street: Rs 1,700 per sq.ft (2024)
• Kalakkuttai Main Road: Rs 1,700 per sq.ft (2024)
• Kalakkuttai 1st Street: Rs 1,700 per sq.ft (2024)
• KALAINGNAR KARUNANIDHI SALAI (Akkarai Joint Street): Rs 6,600 per sq.ft (2024)
• Kalaingnar Karunanidhi Salai 2nd Cross Street (Near Canal): Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kalakkuttai Medu 1st Cross 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 or the sale price.

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

Which Sub Registrar Office covers Kalakkuttai Medu 1st Cross Street?

The Neelankarai Sub Registrar Office covers Kalakkuttai Medu 1st Cross Street. The office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Kalakkuttai Medu 1st Cross Street?

The current guideline value of Kalakkuttai Medu 1st Cross 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 increased from Rs 1,500 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, which is a change of +13%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for this street?

Kalakkuttai Medu 1st Cross Street is classified as Residential Class IV Type - I, which indicates its use for residential purposes.

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

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. These fees are based on the guideline value or the sale price, whichever is higher.

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. This office handles registrations for properties in Kalakkuttai Medu 1st Cross Street.