Guideline Value for Kabilar Street

Kabilar Street guideline value

The current guideline value of Kabilar Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village and falls under the Pammal Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - II.

How the guideline value of Kabilar Street has changed

The guideline value for Kabilar Street has seen significant changes over the years. In 2003, the value was Rs 294 per sq.ft, which increased to Rs 350 per sq.ft in 2007, marking a change of +19%. By 2017, the value rose dramatically to Rs 1,340 per sq.ft, reflecting an increase of +283%. The 2023 revision set the value at Rs 2,000 per sq.ft, a jump of +49% from the previous revision. The current 2024 revision has further increased the guideline value to Rs 2,200 per sq.ft, representing a +10% change from 2023.

It is important to note that the register has no figures for Kabilar Street in 2002 and 2012. Overall, from 2003 to 2024, the guideline value has increased by +648%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft, with a median value of Rs 2,420 per sq.ft. Kabilar Street's 2024 figure of Rs 2,200 per sq.ft is below this median.

• J.R.Nagar: Rs 1,320 per sq.ft (2024)
• Kakelanjchavadi 1st Cross Street: Rs 2,420 per sq.ft (2024)
• Kakelanjchavadi 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Kakelanjchavadi 3rd Cross Street: Rs 2,420 per sq.ft (2024)
• Kaklenjchavadi/Yadhaval Street: Rs 2,200 per sq.ft (2024)
• Jegajeevanram Nagar (S.no.265 Only): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kabilar Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that 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 information.

Which Sub Registrar Office covers Kabilar Street?

Kabilar Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Thiruneermalai. It is used to determine the stamp duty and registration fees applicable when buying or selling a property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a benchmark to calculate the taxes owed. It is essential to be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, ensuring that the appropriate fees are collected during the transaction.

Frequently asked questions

What is the current guideline value of Kabilar Street?

The current guideline value of Kabilar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 294 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +648% over this period.

What is the land classification for Kabilar Street?

Kabilar Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kabilar Street?

Stamp duty for properties in Kabilar Street is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.