Guideline Value for KRIBITH STREET

Kribith Street guideline value

The current guideline value of Kribith Street in Issa Pallavaram village is Rs 3,300 per sq.ft, effective from the 2024 revision. This street falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class I Type - II.

How the guideline value of Kribith Street has changed

The guideline value for Kribith Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from Rs 2,010 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent revision in 2024 has raised it to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Kribith Street.

• KRIBITH 4TH CROSS Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 1st Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 2nd Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 3rd Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 4th Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 5th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kribith Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. 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 Kribith Street?

The Kribith Street falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Issa Pallavaram. It determines the minimum value at which properties must be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing a fair baseline for pricing. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Kribith Street?

The current guideline value of Kribith Street is Rs 3,300 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification of Kribith Street?

Kribith Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the registration office for Kribith Street?

The registration office for Kribith Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties on Kribith Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 3,300 per sq.ft would incur a stamp duty of Rs 2,31,000.