Guideline Value for KELLY'S ROAD

Kelly's Road guideline value

The current guideline value of Kelly's Road in Purasaivakkam village is Rs 8,800 per sq.ft, effective from 1 July 2024. This area falls under the Purasaivakkam Sub Registrar Office (SRO) and is classified as Residential Class I Type - II.

How the guideline value of Kelly's Road has changed

The guideline value of Kelly's Road has seen significant changes over the years. In the 2007 revision, the value was set at Rs 2,800 per sq.ft. This increased to Rs 8,000 per sq.ft in 2012, marking a substantial rise of 186%. However, in 2017, the value decreased to Rs 5,360 per sq.ft, reflecting a decline of 33%. The 2023 revision brought the value back up to Rs 8,000 per sq.ft, and the latest 2024 revision has increased it further to Rs 8,800 per sq.ft, which is a 10% increase from the previous year.

From the 2017 revision to 2023, there was a significant increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 214%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. Kelly's Road's 2024 guideline value is above this median.

• Kelly's Lane: Rs 6,500 per sq.ft (2024)
• Kelly Lane: Rs 6,500 per sq.ft (2024)
• Kesava Naidu Street: Rs 4,400 per sq.ft (2024)
• Kilpauk Garden 1st Cross Street: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden 2nd Cross Street: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden 2nd Lane: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kelly's Road

For a 1,000 sq.ft plot at the current rate of Rs 8,800 per sq.ft, the guideline value would be Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kelly's Road?

The Sub Registrar Office that covers Kelly's Road is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Purasaivakkam. It is used to determine the stamp duty and registration fees that are applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kelly's Road?

The current guideline value of Kelly's Road is Rs 8,800 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 2,800 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, with various revisions in between.

What is the land classification of Kelly's Road?

Kelly's Road is classified as Residential Class I Type - II under the Purasaivakkam SRO.

Where can I find the registration office for Kelly's Road?

The registration office for Kelly's Road is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Kelly's Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 at a rate of 7%.