Guideline Value for Kaji Sayabu Street

Kaji Sayabu Street guideline value

The current guideline value of Kaji Sayabu Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kaji Sayabu Street has changed

The guideline value for Kaji Sayabu Street has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 814 per sq.ft. This increased to Rs 1,000 per sq.ft in 2007, marking a 23% rise. In 2012, the value saw a significant increase to Rs 2,500 per sq.ft, which was a 150% jump from the previous revision. However, in 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a 33% decline. The value then rose again to Rs 2,500 per sq.ft in 2023, and finally to the current value of Rs 2,700 per sq.ft in 2024, which is an 8% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 232%. It is important to note that the register has no figure for Kaji Sayabu Street for the year 2002.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram comprises 81 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current value of Kaji Sayabu Street.

• Jeeva Nagar: Rs 2,700 per sq.ft (2024)
• Janab Ismail Street: Rs 2,700 per sq.ft (2024)
• Jaganthan Street: Rs 3,300 per sq.ft (2024)
• Ismoil Street: Rs 3,300 per sq.ft (2024)
• Indragandhi Road: Rs 5,500 per sq.ft (2024)
• Kasim Sahib Street: Rs 2,200 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 rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaji Sayabu Street?

The Sub Registrar Office that covers Kaji Sayabu Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Cantonment Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. The higher of the guideline value and the sale price is used to calculate these fees, ensuring that the government receives the appropriate revenue from property transactions.

When engaging in real estate transactions, it is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of the deal. Understanding how these values are revised over time can also help parties make informed decisions during negotiations.

Frequently asked questions

What is the current guideline value of Kaji Sayabu Street?

The current guideline value of Kaji Sayabu Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 814 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 232% over this period.

What are the stamp duty and registration fees for property in Kaji Sayabu Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations for Kaji Sayabu Street?

The Pallavaram Sub Registrar Office handles property registrations for Kaji Sayabu Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Kaji Sayabu Street?

Kaji Sayabu Street is classified as Residential Class II Type - I, indicating its designation for residential use within the area.