Guideline Value for KINATTRU SALAI 1ST CROSS STREET

Kinattru Salai 1st Cross Street guideline value

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

How the guideline value of Kinattru Salai 1st Cross Street has changed

The guideline value for Kinattru Salai 1st Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 804 per sq.ft. The 2023 revision increased it to Rs 1,200 per sq.ft, and the current 2024 revision raised it further to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, placing Kinattru Salai 1st Cross Street's 2024 figure below that median.

• Kinattru Salai 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Kinaru Anugu Salai: Rs 1,320 per sq.ft (2024)
• Kesava 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 Kinattru Salai 1st Cross 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kinattru Salai 1st Cross Street?

The Sub Registrar Office that covers Kinattru Salai 1st 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 Pallikaranai

The guideline value is a crucial factor during the registration of property transactions in Pallikaranai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When buying or selling property, the guideline value helps both parties understand the minimum value considered for taxation purposes. This transparency aids in preventing undervaluation and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kinattru Salai 1st Cross Street?

The current guideline value of Kinattru Salai 1st Cross 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 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, marking a 10% increase. The value was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012, showing a significant increase over the years.

What is the land classification of Kinattru Salai 1st Cross Street?

Kinattru Salai 1st Cross Street is classified as Residential Class IV Type - II, indicating its use for residential purposes.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office for Kinattru Salai 1st Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft. Kinattru Salai 1st Cross Street's 2024 figure of Rs 1,320 per sq.ft is below this median.