Guideline Value for KAYALAR STREET

Kayalar Street guideline value

The current guideline value of Kayalar Street in Cantonment Pallavaram village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Kayalar Street has changed

Over the years, the guideline value of Kayalar Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,340 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 2,000 per sq.ft, and the latest revision in 2024 has raised it to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, comparing the 2012 revision to the current 2024 figure, there has been a modest increase of 10%. It is important to note that the register has no figures for Kayalar Street for the years 2002, 2003, and 2007.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram has a total of 81 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Kayalar Street's current value below this median.

• Kayalar Lane: Rs 3,300 per sq.ft (2024)
• King Street: Rs 2,200 per sq.ft (2024)
• Kasim Sahib Street: Rs 2,200 per sq.ft (2024)
• Kulathu Medu: Rs 2,200 per sq.ft (2024)
• Kumaran Lane (STREET): Rs 2,700 per sq.ft (2024)
• Kumaran Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kayalar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kayalar Street?

The Sub Registrar Office that covers Kayalar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure that they comply with the legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These costs are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kayalar Street?

The current guideline value of Kayalar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, with a notable decrease to Rs 1,340 per sq.ft in 2017 before increasing again in subsequent years.

What are the other streets in Cantonment Pallavaram with similar guideline values?

Other streets in Cantonment Pallavaram with similar guideline values include King Street, Kasim Sahib Street, and Kulathu Medu, all valued at Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Kayalar Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registration for Kayalar Street?

The Pallavaram Sub Registrar Office handles property registration for Kayalar Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.