Guideline Value for KESAVARTHINI NAGAR 5TH CROSS STREET

Kesavarthini Nagar 5th Cross Street guideline value

The current guideline value of Kesavarthini Nagar 5th Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kesavarthini Nagar 5th Cross Street has changed

Over the years, the guideline value for Kesavarthini Nagar 5th Cross Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, marking a 49% rise. The most recent 2024 revision has further increased the guideline value to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,600 per sq.ft. The median guideline value for the village is Rs 1,650 per sq.ft, which aligns with the 2024 figure for Kesavarthini Nagar 5th Cross Street.

• Kesavarthini Nagar 4th Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 6th Cross Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 3rd Main Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 7th Cross Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 8th Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kesavarthini Nagar 5th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost for stamp duty and registration fee would be Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kesavarthini Nagar 5th Cross Street?

The Sub Registrar Office that covers Kesavarthini Nagar 5th 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. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Kolathuvancheri. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and fairly, reflecting the value of the property as determined by the local authorities.

Frequently asked questions

What is the current guideline value for Kesavarthini Nagar 5th Cross Street?

The current guideline value for Kesavarthini Nagar 5th Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Kesavarthini Nagar 5th Cross Street?

The land classification for Kesavarthini Nagar 5th Cross Street is Residential Class III Type - I.

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

The Sub Registrar Office for Kesavarthini Nagar 5th 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 property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.