Guideline Value for KESAVARTHINI NAGAR 7TH CROSS STREET

Kesavarthini Nagar 7th Cross Street guideline value

The current guideline value of Kesavarthini Nagar 7th Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kolathuvancheri village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kesavarthini Nagar 7th Cross Street has changed

The guideline value for Kesavarthini Nagar 7th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,650 per sq.ft as of the 2024 revision. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The current increase from 2023 to 2024 is 10%, resulting in an overall increase of 10% from 2012 to 2024.

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 value for these streets is Rs 1,650 per sq.ft, which is equal to the guideline value of Kesavarthini Nagar 7th Cross Street.

• Kesavarthini Nagar 6th Cross Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 8th Cross Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 5th Cross Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 9th Cross Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 4th Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 3rd Main Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kesavarthini Nagar 7th 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, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kesavarthini Nagar 7th Cross Street?

The Kesavarthini Nagar 7th Cross Street is covered by 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 when buying or selling property in Kolathuvancheri. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded at a fair price in accordance with government regulations.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kesavarthini Nagar 7th Cross Street?

The current guideline value of Kesavarthini Nagar 7th 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 currently stands at Rs 1,650 per sq.ft in 2024.

What is the land classification for Kesavarthini Nagar 7th Cross Street?

Kesavarthini Nagar 7th Cross Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 1,48,500.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers Kesavarthini Nagar 7th Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.