Guideline Value for Kabali Street

Kabali Street guideline value

The current guideline value of Kabali Street, located in Velachery village under the Velacheri SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - III land classification.

How the guideline value of Kabali Street has changed

The guideline value for Kabali Street has seen significant changes over the years. In the 2002 revision, the value was Rs 343 per sq.ft, which increased to Rs 385 per sq.ft in 2003. The next revision in 2012 saw a rise to Rs 3,500 per sq.ft, but by 2017, it dropped to Rs 2,345 per sq.ft. The 2023 revision brought it back up to Rs 3,500 per sq.ft, and the most recent revision in 2024 set it at Rs 3,850 per sq.ft. Notably, there is no figure available for this street in the 2007 revision.

From 2002 to 2024, the overall increase in the guideline value is 1022%. The changes between specific revisions include a 12% increase from 2002 to 2003, an 809% increase from 2003 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023. The jump from 2023 to 2024 is 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Kabali Street's 2024 guideline value is below this median.

• Justice Gokulakrishnan Street: Rs 4,400 per sq.ft (2024)
• Kakan Nagar Part-1 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Kakan Nagar Part-1 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Kakkan Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Kakkan Nagar 1st Main Road: Rs 3,850 per sq.ft (2024)
• Kakkan Nagar 1st Main Road (Alias) Sasthri Nagar Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kabali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. 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 Kabali Street?

Kabali Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions, as it determines the amount of stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to calculate the associated costs accurately.

When purchasing property, the guideline value serves as a benchmark for the minimum value at which the property can be registered. If the sale price is higher than the guideline value, the duty is calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Kabali Street?

The current guideline value of Kabali Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 343 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, with various revisions in between showing fluctuations.

What is the land classification for Kabali Street?

Kabali Street is classified as Residential Class II Type - III, which influences its guideline value and potential uses.

Where can I find the Sub Registrar Office for Kabali Street?

The Velacheri Sub Registrar Office, which covers Kabali Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.