Guideline Value for Kailaya Lane

Kailaya Lane guideline value

The current guideline value of Kailaya Lane in Tondaiarpet village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Royapuram SRO and is classified as Residential Class II Type - I.

How the guideline value of Kailaya Lane has changed

The guideline value for Kailaya Lane has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the latest 2024 revision has increased the value significantly to Rs 1,300 per sq.ft, reflecting a rise of 62% from 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for Kailaya Lane.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in the area is Rs 1,600 per sq.ft, indicating that Kailaya Lane's 2024 figure is below this median.

• Kadhpada Labour Lane: Rs 1,300 per sq.ft (2024)
• Kadhpada Labour Cross Street: Rs 1,300 per sq.ft (2024)
• Kadhpada 3rd Cross Street: Rs 1,300 per sq.ft (2024)
• Kadhpada 2nd Cross Street: Rs 1,300 per sq.ft (2024)
• Justice Pandalai Street: Rs 3,800 per sq.ft (2024)
• Jeeva Sowcar Thottam: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kailaya Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kailaya Lane?

The Sub Registrar Office that covers Kailaya Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Tondaiarpet. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the officially recognized value of the property.

When buying or selling property, the guideline value helps to determine the legal obligations regarding taxes and fees. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating applicable duties.

Frequently asked questions

What is the current guideline value of Kailaya Lane?

The current guideline value of Kailaya Lane is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the land classification for Kailaya Lane?

Kailaya Lane is classified as Residential Class II Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in Kailaya Lane?

For a property valued at Rs 13,00,000, the stamp duty is Rs 91,000 and the registration fee is Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Kailaya Lane?

The Royapuram Sub Registrar Office handles the registration for Kailaya Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.