Guideline Value for Kazhikundram 8th Street

Kazhikundram 8th Street guideline value

The current guideline value of Kazhikundram 8th 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 it falls under the Residential Class III Type - I land classification.

How the guideline value of Kazhikundram 8th Street has changed

The guideline value for Kazhikundram 8th Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,200 per sq.ft. It increased significantly to Rs 3,500 per sq.ft in 2012, then decreased to Rs 2,345 per sq.ft in 2017. The value rose again to Rs 3,500 per sq.ft in 2023 and has now reached Rs 3,900 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 is 11%. Notably, the overall increase from 2007 to 2024 is 225%. The register has no figures for this street in 2002 and 2003.

Guideline values in Kazhikundram

Kazhikundram village has a total of 68 streets under the Adayar SRO, with 2024 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 8th Street's 2024 figure below that median.

• Kazhikundram 7th Street: Rs 3,900 per sq.ft (2024)
• Kazhikundram Slum Residents: Rs 3,900 per sq.ft (2024)
• Kazhikundram 6th Street: Rs 3,900 per sq.ft (2024)
• Kazhikundram 5th Street: Rs 3,900 per sq.ft (2024)
• Kazhikundram 4th Street: Rs 3,900 per sq.ft (2024)
• Kazhikundram 4th Lane: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kazhikundram 8th 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, resulting in a total of Rs 3,51,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kazhikundram 8th Street?

The Adayar Sub Registrar Office covers Kazhikundram 8th Street. The office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property in Kazhikundram, the guideline value ensures that the transaction is recorded at a fair value, reflecting the local market conditions. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Kazhikundram 8th Street?

The current guideline value of Kazhikundram 8th 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, reflecting an overall increase of 225% over the years.

What are the stamp duty and registration fees for properties in Kazhikundram 8th Street?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office covers Kazhikundram 8th Street?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, covers Kazhikundram 8th Street.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property and is essential for calculating stamp duty and registration fees during property transactions.