Guideline Value for Kazhikundram 6th Street

Kazhikundram 6th Street guideline value

The current guideline value of Kazhikundram 6th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Kazhikundram village under the Adayar SRO and is classified as Residential Class III Type - I.

How the guideline value of Kazhikundram 6th Street has changed

The guideline value for Kazhikundram 6th Street has seen several revisions over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft. The 2023 revision brought it back up to Rs 3,500 per sq.ft, and the latest revision in 2024 set it at Rs 3,900 per sq.ft.

In terms of percentage changes, the value increased by 192% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The most recent increase from 2023 to 2024 is 11%. Overall, from 2007 to 2024, the guideline value has increased by 225%. There are no figures available for the years 2002 and 2003 for this street.

Guideline values in Kazhikundram

Kazhikundram village has a total of 68 streets under the Adayar SRO, with guideline values ranging from Rs 2,800 to Rs 12,700 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Kazhikundram 6th Street's 2024 value below this median.

• Kazhikundram 5th Street: Rs 3,900 per sq.ft (2024)
• Kazhikundram 7th Street: Rs 3,900 per sq.ft (2024)
• Kazhikundram 4th Street: Rs 3,900 per sq.ft (2024)
• Kazhikundram 8th Street: Rs 3,900 per sq.ft (2024)
• Kazhikundram 4th Lane: Rs 3,900 per sq.ft (2024)
• Kazhikundram Slum Residents: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kazhikundram 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kazhikundram 6th Street?

The Kazhikundram 6th Street falls under the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

When buying or selling property in Kazhikundram, the guideline value plays a crucial role during the registration process. It is used to determine the applicable stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

Understanding the guideline value is essential for both buyers and sellers, as it directly impacts the costs involved in property transactions. It ensures that the transaction is recorded at a fair value as per the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Kazhikundram 6th Street?

The current guideline value of Kazhikundram 6th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, with various increases and decreases in between.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot would incur a total of Rs 3,51,000 in fees.

Which office handles the registration for Kazhikundram 6th Street?

The registration for Kazhikundram 6th Street is handled by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification for Kazhikundram 6th Street?

Kazhikundram 6th Street is classified as Residential Class III Type - I according to the guidelines set by the Registration Department.