Guideline Value for KUZHANTHAI GRAMANI STREET

Kuzhanthai Gramani Street guideline value

The current guideline value of Kuzhanthai Gramani Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Kuzhanthai Gramani Street has changed

The guideline value for Kuzhanthai Gramani Street has seen several revisions over the years. Starting from the 2007 revision, the guideline value was Rs 1,800 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in the 2012 revision. However, it then decreased to Rs 3,015 per sq.ft in 2017. Following this, the value rose sharply to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Between the revisions, the changes were as follows: from 2007 to 2012, there was an increase of 150%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 172%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, placing Kuzhanthai Gramani Street's current value below this median.

• Kuzhanthai Gramani Lane: Rs 4,900 per sq.ft (2024)
• Kuzhanthai Velu Street: Rs 5,500 per sq.ft (2024)
• Kuzhanthai Achari Street: Rs 4,900 per sq.ft (2024)
• Kutti Chetti Street: Rs 5,500 per sq.ft (2024)
• Kuttiappan Street: Rs 5,500 per sq.ft (2024)
• Kuttiappan Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kuzhanthai Gramani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. It is important to note that 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 Kuzhanthai Gramani Street?

The Sub Registrar Office that covers Kuzhanthai Gramani Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property in Purasaivakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is legally recognized and documented. Buyers and sellers must be aware of the guideline value to understand the financial implications of their property transactions.

When you buy or sell property, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the government receives the appropriate taxes based on the property's assessed value, preventing undervaluation during transactions.

Frequently asked questions

What is the current guideline value of Kuzhanthai Gramani Street?

The current guideline value of Kuzhanthai Gramani Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 1,800 per sq.ft in 2007, reaching Rs 4,900 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Kuzhanthai Gramani Street?

Kuzhanthai Gramani Street is classified as Residential Class III Type - II.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which office handles property registrations in Purasaivakkam?

The Purasaivakkam Sub Registrar Office handles property registrations in Purasaivakkam, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.