Guideline Value for Kailasam Street

Kailasam Street guideline value

The current guideline value of Kailasam Street in Erukancherry village, under the Madhavaram SRO, is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - I.

How the guideline value of Kailasam Street has changed

The guideline value for Kailasam Street has seen several revisions over the years. In 2012, the value was Rs 2,300 per sq.ft, which then decreased to Rs 1,541 per sq.ft in 2017. Following that, there was a significant increase to Rs 2,300 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 2,500 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 9%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value is Rs 2,500 per sq.ft, which aligns with the guideline value of Kailasam Street.

• Kakkanji Street: Rs 1,900 per sq.ft (2024)
• Kalamegam Street: Rs 2,500 per sq.ft (2024)
• Kalasattamman Koil Street: Rs 1,900 per sq.ft (2024)
• Kalidasan Street: Rs 2,500 per sq.ft (2024)
• Jeevanandam Street: Rs 2,500 per sq.ft (2024)
• Jayaparanjothi Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kailasam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the guideline value totals Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, making the total Rs 2,25,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kailasam Street?

Kailasam Street falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Erukancherry. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. Buyers and sellers must be aware of the current guideline value to accurately calculate the costs associated with the property transfer.

Frequently asked questions

What is the current guideline value of Kailasam Street?

The current guideline value of Kailasam Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification of Kailasam Street?

Kailasam Street is classified as Residential Class III Type - I.

Where can I find the registration office for Kailasam Street?

The registration office for Kailasam Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Kailasam Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,75,000.