Guideline Value for Kakelanjchavadi 1st Cross Street

Kakelanjchavadi 1st Cross Street guideline value

The current guideline value of Kakelanjchavadi 1st Cross Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO, classified as Residential Class I Type - I.

How the guideline value of Kakelanjchavadi 1st Cross Street has changed

The guideline value has seen significant changes over the years. In 2003, the value was Rs 301 per sq.ft, which increased to Rs 350 per sq.ft in 2007. This was followed by a substantial rise to Rs 1,474 per sq.ft in 2017, marking an increase of 321%. The value then rose to Rs 2,200 per sq.ft in 2023, reflecting a 49% increase. The current value of Rs 2,420 per sq.ft from the 2024 revision represents a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 704%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft, with the median value being Rs 2,420 per sq.ft. The guideline value for Kakelanjchavadi 1st Cross Street aligns with this median.

• Kakelanjchavadi 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Kakelanjchavadi 3rd Cross Street: Rs 2,420 per sq.ft (2024)
• Kaklenjchavadi/Yadhaval Street: Rs 2,200 per sq.ft (2024)
• Kabilar Street: Rs 2,200 per sq.ft (2024)
• J.R.Nagar: Rs 1,320 per sq.ft (2024)
• Kamaraj Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Kakelanjchavadi 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, making the total fees together Rs 2,17,800. 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 Kakelanjchavadi 1st Cross Street?

The Kakelanjchavadi 1st Cross Street falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in property transactions in Thiruneermalai, as it determines the amount of stamp duty and registration fees payable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure they comply with the legal requirements during property transactions.

When a property is sold, the guideline value serves as a benchmark for calculating the taxes owed. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Kakelanjchavadi 1st Cross Street?

The current guideline value of Kakelanjchavadi 1st Cross Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 301 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, marking an overall increase of 704% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Which office handles registrations for Kakelanjchavadi 1st Cross Street?

The Pammal Sub Registrar Office handles registrations for Kakelanjchavadi 1st Cross Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the stamp duty and registration fees during property transactions, ensuring compliance with legal requirements and proper revenue collection by the government.