Guideline Value for Kali Street

Kali Street guideline value

The current guideline value of Kali Street in Puzhal village, under the Redhills SRO, is Rs 1,102 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Kali Street has changed

The guideline value for Kali Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 804 per sq.ft. In 2003, it decreased to Rs 81 per sq.ft. The 2007 revision saw a significant increase to Rs 200 per sq.ft, followed by a rise to Rs 700 per sq.ft in 2012. However, this was followed by a decrease to Rs 469 per sq.ft in 2017. The value continued to increase, reaching Rs 1,000 per sq.ft in 2023, and finally rising to Rs 1,102 per sq.ft in the 2024 revision, which represents a 10% increase from the previous year.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 37%. The register has no figure for Kali Street for the years not mentioned in the revisions.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 1,102 per sq.ft, which is equal to the guideline value of Kali Street.

• Kalki Nagar: Rs 1,100 per sq.ft (2024)
• Kalyan Street: Rs 1,100 per sq.ft (2024)
• Kamaraj Nagar: Rs 1,100 per sq.ft (2024)
• Jithesh Avenue: Rs 1,650 per sq.ft (2024)
• Jeeva Street First Lane: Rs 1,650 per sq.ft (2024)
• Jeeva Street 2nd Lane: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,102 per sq.ft, the total guideline value would be Rs 11,02,000. The stamp duty at 7% would amount to Rs 77,140, and the registration fee at 2% would be Rs 22,040, bringing the total cost together to Rs 99,180. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kali Street?

Kali Street falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Puzhal. It is used to determine the stamp duty and registration fees that need to be paid when a property is sold or purchased. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

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

Frequently asked questions

What is the current guideline value of Kali Street?

The current guideline value of Kali Street is Rs 1,102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2002 to Rs 1,102 per sq.ft in 2024, marking an overall increase of 37% over this period.

What is the land classification for Kali Street?

Kali Street is classified as Residential Class III Type - I under the current guidelines.

Where can I find the registration office for Kali Street?

The registration office for Kali Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Puzhal?

Stamp duty for properties in Puzhal is calculated based on the higher of the guideline value or the sale price. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value or sale price.