Guideline Value for KESAVA NAIDU STREET

Kesava Naidu Street guideline value

The current guideline value of Kesava Naidu Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kesava Naidu Street has changed

The guideline value for Kesava Naidu Street has undergone several revisions over the years. The earliest available figure is from 2007, where the value was Rs 1,100 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, representing a 264% rise. However, it then decreased to Rs 2,680 per sq.ft in 2017, marking a 33% decline. The value continued to rise to Rs 4,000 per sq.ft in 2023, and finally reached Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

In summary, the changes in guideline value from 2007 to 2024 show a cumulative increase of 300%. The revisions for the years 2002 and 2003 do not have any figures recorded for Kesava Naidu Street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, which places the 2024 value of Kesava Naidu Street below this median.

• Kelly's Road: Rs 8,800 per sq.ft (2024)
• Kelly's Lane: Rs 6,500 per sq.ft (2024)
• Kelly Lane: Rs 6,500 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 Kesava Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total fees would be Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Kesava Naidu Street?

The Sub Registrar Office that covers Kesava Naidu Street 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 is a crucial factor in property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. These fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in a property transaction, it is essential to be aware of the guideline value as it affects the overall cost of registration. Understanding the guideline value helps ensure that all legal requirements are met during the buying or selling process.

Frequently asked questions

What is the current guideline value of Kesava Naidu Street?

The current guideline value of Kesava Naidu Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 300%.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000. The stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Kesava Naidu Street?

The Purasaivakkam Sub Registrar Office covers Kesava Naidu Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is based on either the guideline value or the sale price, whichever is higher.