Guideline Value for KUTBI COMPLEX & AVENUE

Kutbi Complex & Avenue guideline value

The current guideline value of Kutbi Complex & Avenue is Rs 4,500 per sq.ft, effective from 1 July 2024. This property is located in Enjambakkam village, under the Neelankarai SRO, and is classified as Residential Special Type - IV.

How the guideline value of Kutbi Complex & Avenue has changed

The guideline value for Kutbi Complex & Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 4,000 per sq.ft, and the most recent 2024 revision has raised it further to Rs 4,500 per sq.ft.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a 13% increase. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing the 2024 guideline value for Kutbi Complex & Avenue above this median.

• Kuppam Road: Rs 2,200 per sq.ft (2024)
• Kulmohar Beach Avenue: Rs 2,200 per sq.ft (2024)
• Krishna Viruthigai: Rs 2,200 per sq.ft (2024)
• KOHINOOR COMPLEX 3rd CROSS SALAI: Rs 3,900 per sq.ft (2024)
• KOHINOOR COMPLEX 2nd CROSS SALAI: Rs 3,900 per sq.ft (2024)
• KOHINOOR COMPLEX 1st CROSS SALAI: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kutbi Complex & Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,500 per sq.ft, the total guideline value would be Rs 45,00,000. The stamp duty at 7% would amount to Rs 3,15,000, and the registration fee at 2% would be Rs 90,000, bringing the total fees to Rs 4,05,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kutbi Complex & Avenue?

The Sub Registrar Office that covers Kutbi Complex & Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Enjambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid to the authorities.

When a property is sold, the sale price or the guideline value, whichever is higher, is considered for calculating these fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Kutbi Complex & Avenue?

The current guideline value for Kutbi Complex & Avenue is Rs 4,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,500 per sq.ft in 2024.

What is the land classification for Kutbi Complex & Avenue?

The land classification for Kutbi Complex & Avenue is Residential Special Type - IV.

What are the other streets in Enjambakkam with their guideline values?

Other streets in Enjambakkam include Kuppam Road, Kulmohar Beach Avenue, and Krishna Viruthigai, all at Rs 2,200 per sq.ft, along with KOHINOOR COMPLEX 1st, 2nd, and 3rd CROSS SALAI at Rs 3,900 per sq.ft.

Where can I find the Sub Registrar Office for Kutbi Complex & Avenue?

The Sub Registrar Office for Kutbi Complex & Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.