Guideline Value for Kazhikundram Slum Residents

Kazhikundram Slum Residents guideline value

The current guideline value for Kazhikundram Slum Residents is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Kazhikundram village under the Adayar SRO, classified as Residential Class III Type - I.

How the guideline value of Kazhikundram Slum Residents has changed

The guideline value has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,200 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it 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 is now Rs 3,900 per sq.ft in 2024.

Between these revisions, the changes were notable. From 2007 to 2012, there was a remarkable increase of 192%. However, from 2012 to 2017, the value fell by 33%. The value then rose by 49% from 2017 to 2023, and finally, there was an increase of 11% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 225%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kazhikundram

In Kazhikundram village, there are 68 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 12,700 per sq.ft, with a median value of Rs 6,600 per sq.ft. The current guideline value of Rs 3,900 per sq.ft for Kazhikundram Slum Residents is below this median.

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

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 be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, resulting in a total of Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kazhikundram Slum Residents?

The Adayar Sub Registrar Office covers Kazhikundram Slum Residents, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for further assistance.

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

When buying or selling property in Kazhikundram, the guideline value is crucial as it determines the stamp duty and registration fees payable. This value is used as a benchmark for calculating the financial obligations associated with the transaction.

During the registration process, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable 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 for Kazhikundram Slum Residents?

The current guideline value for Kazhikundram Slum Residents 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 significantly 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 properties in Kazhikundram?

The stamp duty is 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, a property valued at Rs 39,00,000 would incur a total fee of Rs 3,51,000.

Which office handles property registrations in Kazhikundram?

The Adayar Sub Registrar Office handles property registrations for Kazhikundram Slum Residents, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification for Kazhikundram Slum Residents?

Kazhikundram Slum Residents is classified as Residential Class III Type - I according to the local guidelines.