Guideline Value for Kailasapuram 2nd St

Kailasapuram 2nd St guideline value

The current guideline value of Kailasapuram 2nd St is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Kailasapuram 2nd St has changed

The guideline value for Kailasapuram 2nd St has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 2,000 per sq.ft. This figure remained until 2017, when it decreased to Rs 1,340 per sq.ft. However, in the subsequent revision of 2023, the value increased significantly to Rs 2,000 per sq.ft, and further rose to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between 2017 and 2023, there was a notable increase of 49%. The overall change from the 2012 revision to the current 2024 revision reflects a modest increase of 10%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Kailasapuram 2nd St's current value below this median.

• Kailasapuram 1st Street: Rs 2,200 per sq.ft (2024)
• Kailasapuram 3rd St: Rs 2,200 per sq.ft (2024)
• Kailasapuram 4th st: Rs 2,200 per sq.ft (2024)
• Kakkan Road/Street: Rs 6,600 per sq.ft (2024)
• Kalaimagal Nagar: Rs 880 per sq.ft (2024)
• Jothi Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kailasapuram 2nd St

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kailasapuram 2nd St?

The Kailasapuram 2nd St falls under the jurisdiction of 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 Tambaram

The guideline value plays a crucial role in property transactions in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable fees based on the property size and its designated value. This ensures that all transactions are conducted fairly and transparently, adhering to the established legal framework.

Frequently asked questions

What is the current guideline value of Kailasapuram 2nd St?

The current guideline value of Kailasapuram 2nd St 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 seen several revisions, with the most recent being an increase from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. The value has increased overall by 10% from 2012 to 2024.

What is the stamp duty for property in Kailasapuram 2nd St?

The stamp duty for property in Kailasapuram 2nd St is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

Which office handles property registration for Kailasapuram 2nd St?

The Tambaram Joint 1 Sub Registrar Office handles property registration for Kailasapuram 2nd St. It is located at No.26, mes Road, East Tambaram, Chennai-600059.

What is the land classification for Kailasapuram 2nd St?

Kailasapuram 2nd St is classified as Residential Class I Type - II, indicating its suitability for residential development.