Guideline Value for KUZHANTHAI VELU STREET

Kuzhanthai Velu Street guideline value

The current guideline value of Kuzhanthai Velu Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Kuzhanthai Velu Street has changed

The guideline value for Kuzhanthai Velu Street has seen several revisions over the years. The earliest recorded figure is from 2007, set at Rs 1,800 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 178%. However, it then decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for Kuzhanthai Velu Street. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, which is the same as the current guideline value for Kuzhanthai Velu Street.

• Kuzhanthai Gramani Street: Rs 4,900 per sq.ft (2024)
• Kuzhanthai Gramani Lane: Rs 4,900 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 Velu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kuzhanthai Velu Street?

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

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

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

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately in the official records. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Kuzhanthai Velu Street?

The current guideline value of Kuzhanthai Velu Street 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 increased from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 206% over the years.

What is the stamp duty rate for properties in Kuzhanthai Velu Street?

The stamp duty rate for properties in Kuzhanthai Velu Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kuzhanthai Velu Street?

The Sub Registrar Office for Kuzhanthai Velu Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

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

Other streets in Purasaivakkam include Kuzhanthai Gramani Street, Kuzhanthai Gramani Lane, Kuzhanthai Achari Street, Kutti Chetti Street, Kuttiappan Street, and Kuttiappan Lane, with guideline values ranging from Rs 4,900 to Rs 5,500 per sq.ft.