Guideline Value for KASHEW MAJESTIC RESIDENCY

Kashew Majestic Residency guideline value

The current guideline value of Kashew Majestic Residency is Rs 100 per sq.ft, effective from 1 July 2024. This property is located in Seethapuram village under the Salavakkam SRO, classified as Residential Class I Type - I.

How the guideline value of Kashew Majestic Residency has changed

The guideline value for Kashew Majestic Residency has seen several revisions over the years. In 2012, the guideline value was set at Rs 100 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 67 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 100 per sq.ft. The 2024 revision has maintained this value at Rs 100 per sq.ft, with no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 100 per sq.ft.

Guideline values in Seethapuram

Currently, there are no specific village figures available for Seethapuram. The Kashew Majestic Residency is situated within the Salavakkam SRO, which oversees the guideline values for properties in this area.

Stamp duty and registration fee for property in Kashew Majestic Residency

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that 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 Kashew Majestic Residency?

The Salavakkam Sub Registrar Office covers Kashew Majestic Residency. The office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Seethapuram. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kashew Majestic Residency?

The current guideline value of Kashew Majestic Residency is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023 and 2024, with no change from 2023 to 2024.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total cost for these fees would be Rs 9,000.

Which Sub Registrar Office covers Kashew Majestic Residency?

The Salavakkam Sub Registrar Office covers Kashew Majestic Residency, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

Are there other streets in Seethapuram with guideline values?

Currently, there are no other streets in Seethapuram with guideline values available. The Kashew Majestic Residency is the only property mentioned under the Salavakkam SRO.