Guideline Value for KINATTRU SALAI 2ND CROSS STREET

Kinattru Salai 2nd Cross Street guideline value

The current guideline value of Kinattru Salai 2nd Cross Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Kinattru Salai 2nd Cross Street has changed

The guideline value for Kinattru Salai 2nd Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. In 2023, the guideline value increased to Rs 1,200 per sq.ft, and the most recent revision in 2024 set it at Rs 1,320 per sq.ft.

From 2017 to 2023, the value saw a significant increase of 49%. The subsequent revision from 2023 to 2024 reflects a 10% increase. Overall, from the 2012 figure to the 2024 figure, there has been a 10% increase. It is important to note that 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 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the current value of Kinattru Salai 2nd Cross Street below the median.

• Kinattru Salai 1st 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 Fisrt 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 2nd 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 would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. 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 detailed calculations.

Which Sub Registrar Office covers Kinattru Salai 2nd Cross Street?

The Sub Registrar Office that covers Kinattru Salai 2nd 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, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value as it impacts the overall costs associated with the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used to calculate applicable duties.

Frequently asked questions

What is the current guideline value of Kinattru Salai 2nd Cross Street?

The current guideline value of Kinattru Salai 2nd 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 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Kinattru Salai 2nd Cross Street?

The land classification for Kinattru Salai 2nd Cross Street is Residential Class IV Type - II.

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

The Sub Registrar Office covering Kinattru Salai 2nd 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 properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,20,000, the stamp duty at 7% would be Rs 92,400.