Guideline Value for KESAVA STREET

Kesava Street guideline value

The current guideline value of Kesava Street in Pallikaranai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Kesava Street has changed

Over the years, the guideline value of Kesava Street has seen several revisions. The earliest recorded figure is from 2002, when the guideline value was Rs 78 per sq.ft. This increased to Rs 100 per sq.ft in 2003, marking a rise of 28%. The value then experienced significant growth, reaching Rs 400 per sq.ft in 2007, which was a 300% increase. Following this, the value rose to Rs 1,200 per sq.ft in 2012, reflecting a 200% increase from the previous revision. However, from 2012 to 2017, the value decreased to Rs 804 per sq.ft, a decline of 33%. The value then increased substantially to Rs 1,200 per sq.ft in 2023, and finally, it rose to the current figure of Rs 1,320 per sq.ft in 2024, which is a 10% increase.

The overall change from 2002 to 2024 shows a remarkable increase of 1,592%. There are no other revisions recorded for Kesava Street in the guideline value register.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft, with a median of Rs 1,650 per sq.ft. The guideline value of Kesava Street is below this median.

• Kinaru Anugu Salai: Rs 1,320 per sq.ft (2024)
• Kinattru Salai 1st Cross Street: Rs 1,320 per sq.ft (2024)
• Kinattru Salai 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Kavimani Street First Thulukanathamman Koil P.G: Rs 1,650 per sq.ft (2024)
• Kavimani Street First V.G.P. Shanthi Nagar (Geroge Avenue): Rs 1,650 per sq.ft (2024)
• Kavimani Street Extension: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kesava Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kesava Street?

The Sub Registrar Office that covers Kesava 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. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Pallikaranai. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of their property transactions.

When a property is registered, the guideline value serves as a benchmark for calculating the applicable taxes. This value is important for both buyers and sellers to ensure that the transaction is conducted transparently and within the legal framework established by the authorities.

Frequently asked questions

What is the current guideline value of Kesava Street?

The current guideline value of Kesava Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 78 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 1,592% over the years.

What is the land classification of Kesava Street?

Kesava Street is classified as Residential Class IV Type - II under the Chennai South Joint I SRO.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 13,20,000, with a stamp duty of Rs 92,400 and a registration fee of Rs 26,400, totaling Rs 1,18,800.

Where can I find the Sub Registrar Office for Kesava Street?

The Sub Registrar Office for Kesava Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.