Guideline Value for Kathiravan Salai

Kathiravan Salai guideline value

The current guideline value of Kathiravan Salai is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kathiravan Salai has changed

The guideline value for Kathiravan Salai has undergone several revisions over the years. In the 2002 revision, the value was Rs 479 per sq.ft, which increased to Rs 521 per sq.ft in 2003. The 2007 revision saw a significant jump to Rs 1,500 per sq.ft, which then rose to Rs 4,000 per sq.ft in 2012. However, there was a decrease to Rs 2,680 per sq.ft in the 2017 revision. The value then increased to Rs 4,000 per sq.ft in 2023, and finally, it stands at Rs 4,400 per sq.ft as of the 2024 revision.

Overall, from 2002 to 2024, the guideline value has increased by 819%. The changes between the revisions include a 10% rise from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 167% increase from 2007 to 2012, a 188% rise from 2003 to 2007, and a 9% increase from 2002 to 2003.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Kathiravan Salai's 2024 figure above this median.

• Kazura Garden 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Kazura Garden 1st Pirathana Salai: Rs 3,900 per sq.ft (2024)
• Kazura Garden 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Kazura Garden 2nd Pirathana Salai: Rs 3,900 per sq.ft (2024)
• Kazura Garden 3rd Cross Street: Rs 3,900 per sq.ft (2024)
• Kazura Garden 4th Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kathiravan Salai

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kathiravan Salai?

The Sub Registrar Office that covers Kathiravan Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Neelankarai. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value as it can influence the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Kathiravan Salai?

The current guideline value of Kathiravan Salai is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 479 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 819% over the years.

What is the median guideline value in Neelankarai?

The median guideline value for streets in Neelankarai is Rs 2,200 per sq.ft, with Kathiravan Salai's 2024 figure being above this median.

What are the stamp duty rates for properties in Kathiravan Salai?

The stamp duty for properties in Kathiravan Salai is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kathiravan Salai?

The Sub Registrar Office for Kathiravan Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.