Guideline Value for KUNDRATHUR SALAI

Kundrathur Salai guideline value

The current guideline value of Kundrathur Salai is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village, under the Chennai South Joint I SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Kundrathur Salai has changed

The guideline value for Kundrathur Salai has undergone several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which decreased to Rs 3,350 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 5,000 per sq.ft in the 2023 revision, and then to Rs 5,500 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, when considering the period from 2012 to 2024, the guideline value has seen a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,930 per sq.ft, positioning Kundrathur Salai's 2024 figure above this median.

• Kothandaraman Nagar: Rs 1,650 per sq.ft (2024)
• Kothadaraman Nagar Main Road: Rs 1,650 per sq.ft (2024)
• K.K.R. Garden: Rs 1,930 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 3,850 per sq.ft (2024)
• Mahalakshmi Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Mahalakshmi Nagar 2nd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kundrathur Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for these fees would be Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kundrathur Salai?

The Kundrathur Salai is covered by 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 Karambakkam

The guideline value is a critical factor during property registration in Karambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can significantly impact the total expenditure involved in the property transaction.

Frequently asked questions

What is the current guideline value of Kundrathur Salai?

The current guideline value of Kundrathur Salai is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2023 to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase. It was Rs 3,350 per sq.ft in 2017, which was a 49% increase from the previous revision.

What is the land classification for Kundrathur Salai?

Kundrathur Salai is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the registration office for Kundrathur Salai?

The registration office for Kundrathur Salai 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 stamp duty calculated for properties in Kundrathur Salai?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 55,00,000, the stamp duty would amount to Rs 3,85,000.