Guideline Value for Kilpauk Garden 1st Cross Street

Kilpauk Garden 1st Cross Street guideline value

The current guideline value of Kilpauk Garden 1st Cross Street is Rs 13,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO and is classified as Mixed Type - I land.

How the guideline value of Kilpauk Garden 1st Cross Street has changed

The guideline value for Kilpauk Garden 1st Cross Street has seen significant changes over the years. In the 2003 revision, the guideline value was Rs 1,131 per sq.ft. This increased to Rs 2,000 per sq.ft in 2007, marking a substantial rise of 77%. The 2012 revision saw a further increase to Rs 12,300 per sq.ft, which represented a remarkable 515% increase from the previous figure. However, in the 2017 revision, the value dropped to Rs 8,241 per sq.ft, reflecting a decrease of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 12,300 per sq.ft, which was a 49% increase. The most recent revision in 2024 set the value at Rs 13,400 per sq.ft, an increase of 9% from the previous year. The register does not have a figure for the year 2002 for this street.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO carrying a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, placing Kilpauk Garden 1st Cross Street above this median.

• Kilpauk Garden 2nd Cross Street: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden 2nd lane: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden 2nd linkStreet: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden 2nd street: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden 3rd link cross street: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden 3rd street: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kilpauk Garden 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,400 per sq.ft, the total guideline value would be Rs 1,34,00,000. The stamp duty at 7% would amount to Rs 9,38,000, and the registration fee at 2% would be Rs 2,68,000, totaling Rs 12,06,000. It is important to note that the 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 Kilpauk Garden 1st Cross Street?

The Sub Registrar Office that covers Kilpauk Garden 1st Cross Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Egmore. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value is used to determine the applicable taxes, ensuring that the government receives revenue based on the property's assessed value. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kilpauk Garden 1st Cross Street?

The current guideline value of Kilpauk Garden 1st Cross Street is Rs 13,400 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 1,131 per sq.ft in 2003 to Rs 13,400 per sq.ft in 2024, marking an overall increase of 1085% over the years.

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

Stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 12,06,000.

Which office handles the registration of properties in Kilpauk Garden 1st Cross Street?

The Periamet Sub Registrar Office handles the registration of properties in Kilpauk Garden 1st Cross Street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification of Kilpauk Garden 1st Cross Street?

Kilpauk Garden 1st Cross Street is classified as Mixed Type - I land, which indicates its suitability for various types of development and usage.