Guideline Value for Kaji Sayabu Street

Kaji Sayabu Street guideline value

The current guideline value of Kaji Sayabu Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kaji Sayabu Street has changed

The guideline value for Kaji Sayabu Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 334 per sq.ft. This increased to Rs 417 per sq.ft in 2003, marking a 25% rise. In 2007, the value jumped significantly to Rs 750 per sq.ft, reflecting an 80% increase. The 2012 revision saw a return to Rs 3,500 per sq.ft, which was a 367% increase from 2007. However, it dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 3,500 per sq.ft in 2023, followed by the current figure of Rs 3,850 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,053%. There are no figures available for revisions in the years not mentioned above.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value is Rs 3,850 per sq.ft, which is equal to the current guideline value of Kaji Sayabu Street.

• Kadumbadi Amman Koil Street: Rs 2,750 per sq.ft (2024)
• Kalaignar Nagar: Rs 2,750 per sq.ft (2024)
• Kalaignar Nagar (Kannagi Street): Rs 2,750 per sq.ft (2024)
• Kalaignar Nagar Muthuranga Mudaliar: Rs 2,750 per sq.ft (2024)
• Jilani Sayabu Street: Rs 2,750 per sq.ft (2024)
• Jessli Apartments: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kaji Sayabu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, resulting in a total cost of Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kaji Sayabu Street?

Kaji Sayabu Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Parangimalai. It serves as a benchmark for determining the minimum value at which a property can be sold and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers and sellers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Kaji Sayabu Street?

The current guideline value of Kaji Sayabu Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 334 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting a significant overall increase of 1,053% over the years.

What is the registration office for Kaji Sayabu Street?

The registration office for Kaji Sayabu Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Kaji Sayabu Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.

What other streets have guideline values in Parangimalai?

Other streets in Parangimalai include Kadumbadi Amman Koil Street, Kalaignar Nagar, and Jilani Sayabu Street, among others, with varying guideline values.