Guideline Value for Kailasapuram 3rd St

Kailasapuram 3rd St guideline value

The current guideline value of Kailasapuram 3rd St is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Kailasapuram 3rd St has changed

The guideline value for Kailasapuram 3rd St has undergone several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. This was a decline of 33%. However, the value saw a significant increase in the following years, rising to Rs 2,000 per sq.ft in 2023 and further to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, bringing it to Rs 2,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no 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 that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, indicating that Kailasapuram 3rd St's 2024 figure is below this median.

• Kailasapuram 2nd St: Rs 2,200 per sq.ft (2024)
• Kailasapuram 4th St: Rs 2,200 per sq.ft (2024)
• Kailasapuram 1st Street: 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 3rd St

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kailasapuram 3rd St?

The Kailasapuram 3rd St falls under 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 is a crucial factor when registering property transactions in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kailasapuram 3rd St?

The current guideline value of Kailasapuram 3rd 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Kailasapuram 3rd St?

Kailasapuram 3rd St is classified as Residential Class I Type - II, indicating its suitability for residential development.

What is the registration office for Kailasapuram 3rd St?

The registration office covering Kailasapuram 3rd St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059.

How is stamp duty calculated in Tambaram?

Stamp duty in Tambaram is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.