Guideline Value for Kabilar Street

Kabilar Street guideline value

The current guideline value of Kabilar Street in Chitlapakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Kabilar Street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 saw the guideline value increase to Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

The register has no figure for Kabilar Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current value of Kabilar Street.

• Judge Colony Ist Street: Rs 4,400 per sq.ft (2024)
• Judge Colony Cross Street: Rs 4,400 per sq.ft (2024)
• Judge Colony 4th Street: Rs 4,400 per sq.ft (2024)
• Judge Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Judge Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• Judge Colony 2-nd Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kabilar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kabilar Street?

Kabilar Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is legally recognized and recorded.

When a property is sold, the higher of the guideline value or the sale price is taken into account for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kabilar Street?

The current guideline value of Kabilar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the stamp duty and registration fees for Kabilar Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 1,48,500, including both fees.

Which office handles the registration for Kabilar Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Kabilar Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification of Kabilar Street?

Kabilar Street is classified as Residential Class I Type - III, which indicates its suitability for residential development.