Guideline Value for KAYITHAMILLATH 1ST CROSS STREET

Kayithamillath 1st Cross Street guideline value

The current guideline value of Kayithamillath 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kayithamillath 1st Cross Street has changed

Looking at the historical revisions, the guideline value for Kayithamillath 1st Cross Street has seen several changes over the years. In 2012, the value was Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the value dropped by 33%, but from 2017 to 2023, it rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Kayithamillath 1st Cross Street.

• Kazhaikoothu Nagar: Rs 2,200 per sq.ft (2024)
• Kaveri Street: Rs 2,200 per sq.ft (2024)
• Kattapomman Street: Rs 2,200 per sq.ft (2024)
• Kovalan Street: Rs 2,200 per sq.ft (2024)
• Krishna Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Krishnan Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kayithamillath 1st Cross 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, leading to a total cost of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kayithamillath 1st Cross Street?

The Sub Registrar Office that covers Kayithamillath 1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Jelandianpettai. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. Ensuring that the property is registered at or above the guideline value is necessary to comply with legal requirements.

Frequently asked questions

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

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

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft in 2024.

What is the land classification for Kayithamillath 1st Cross Street?

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

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Kayithamillath 1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 1,54,000 at 7% of the guideline value.