Guideline Value for KEZH STREET

Kezh Street guideline value

The current guideline value of Kezh Street in Iyaampettai village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Walajabad SRO and is classified as Residential Class I Type - I.

How the guideline value of Kezh Street has changed

The guideline value for Kezh Street has undergone several revisions over the years. In 2007, the value was Rs 50 per sq.ft, which saw a significant increase to Rs 500 per sq.ft in 2012. However, in 2017, it decreased to Rs 335 per sq.ft. The value then rose to Rs 500 per sq.ft in 2023, and currently stands at Rs 550 per sq.ft as per the 2024 revision. The register has no figure for this street for the years 2002 and 2003.

Between the revisions, the changes in guideline value are notable. From 2007 to 2012, there was a remarkable increase of 900%, followed by a decline of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and a further rise of 10% was observed from 2023 to 2024. Overall, the guideline value has increased by 1000% from 2007 to 2024.

Guideline values in Iyaampettai

In Iyaampettai, there are 12 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 660 per sq.ft. The median value for these streets is Rs 550 per sq.ft, which is equal to the guideline value of Kezh Street.

• Kanthappar Street: Rs 550 per sq.ft (2024)
• Kanthapar Nagar: Rs 275 per sq.ft (2024)
• Main Road: Rs 550 per sq.ft (2024)
• Male Street: Rs 550 per sq.ft (2024)
• Melmadaveethi: Rs 550 per sq.ft (2024)
• Nadu Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Kezh Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kezh Street?

Kezh Street is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Iyaampettai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid to the government.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are levied. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kezh Street?

The current guideline value of Kezh Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 1000% over this period.

What are the other streets in Iyaampettai with their guideline values?

Other streets in Iyaampettai include Kanthappar Street and Main Road, both at Rs 550 per sq.ft, while Kanthapar Nagar is at Rs 275 per sq.ft.

How is stamp duty calculated for properties in Kezh Street?

Stamp duty for properties in Kezh Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 38,500.

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

The Sub Registrar Office covering Kezh Street is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.