Guideline Value for KISTAPPA NAICKER STREET

Kistappa Naicker Street guideline value

The current guideline value of Kistappa Naicker Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saidapet 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 Kistappa Naicker Street has changed

The guideline value for Kistappa Naicker Street has undergone several revisions over the years. In 2002, the value was Rs 633 per sq.ft, which increased to Rs 729 per sq.ft in 2003, marking a 15% rise. The value continued to climb to Rs 850 per sq.ft in 2007, reflecting a 17% increase. A significant jump occurred in 2012, where the value reached Rs 3,000 per sq.ft, a 253% increase from the previous revision. However, this value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the guideline value saw a substantial increase to Rs 3,000 per sq.ft, which is a 49% rise. The latest revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year. There are no figures for Kistappa Naicker Street in the years not mentioned in the register.

Guideline values in Saidapet

In Saidapet, there are 52 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Kistappa Naicker Street.

• Kodambakkam Road: Rs 8,250 per sq.ft (2024)
• Kodambakkam Road 12 Feet Lane: Rs 4,400 per sq.ft (2024)
• Kavarai Street: Rs 4,400 per sq.ft (2024)
• Karunanidhi 2nd Street: Rs 2,750 per sq.ft (2024)
• Karunanidhi 1st Street: Rs 2,750 per sq.ft (2024)
• Karunanidhi 1st Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kistappa Naicker Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kistappa Naicker Street?

The Sub Registrar Office that covers Kistappa Naicker 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 Saidapet

The guideline value is a crucial factor when buying or selling property in Saidapet, as it determines the minimum value at which a property can be registered. It is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations and to avoid any potential legal issues.

Frequently asked questions

What is the current guideline value of Kistappa Naicker Street?

The current guideline value of Kistappa Naicker Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 633 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 421%.

What is the land classification for Kistappa Naicker Street?

Kistappa Naicker Street is classified as Residential Class III Type - I, indicating its designation for residential use.

Where can I find the registration office for Kistappa Naicker Street?

The registration office for Kistappa Naicker 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 Kistappa Naicker Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.