Guideline Value for KAZHIVELI SALAI

Kazhiveli Salai guideline value

The current guideline value of Kazhiveli Salai is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village under the Neelankarai SRO and is classified as Residential Class IV Type - II.

How the guideline value of Kazhiveli Salai has changed

The guideline value for Kazhiveli Salai has seen several revisions over the years. The earliest recorded figure is Rs 148 per sq.ft in 2002, which increased to Rs 250 per sq.ft in 2003, marking a 69% rise. Following this, the value rose to Rs 300 per sq.ft in 2007, a 20% increase. The next revision in 2012 set the value at Rs 1,500 per sq.ft, reflecting a significant 400% increase from the previous figure. However, this was followed by a decrease to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, and finally, it increased to Rs 1,700 per sq.ft in the 2024 revision, which is a 13% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,049%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. Kazhiveli Salai's 2024 figure is below this median.

• Kothandaraman Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Kothandaraman Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Kothandaraman Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Kothandaraman Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Kothandaraman Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Karpaga Vinayagar Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kazhiveli Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, while 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 and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kazhiveli Salai?

The Sub Registrar Office that covers Kazhiveli Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Perungudi, the guideline value is used to determine the stamp duty and registration fees. It serves as a basis for calculating the costs associated with the transaction, ensuring that the government receives the appropriate revenue from property sales.

The guideline value is crucial for both buyers and sellers, as it reflects the official valuation of the property. It is important to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kazhiveli Salai?

The current guideline value of Kazhiveli Salai is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 148 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 1,049% over the years.

What are the stamp duty and registration fees for property in Kazhiveli Salai?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total cost would be Rs 1,53,000 including both fees.

Which Sub Registrar Office covers Kazhiveli Salai?

The Neelankarai Sub Registrar Office covers Kazhiveli Salai, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification of Kazhiveli Salai?

Kazhiveli Salai is classified as Residential Class IV Type - II under the Neelankarai SRO.