Guideline Value for Kinaru Street

Kinaru Street guideline value

The current guideline value of Kinaru Street in Seemapuram village, under the Redhills SRO, is Rs 220 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Kinaru Street has changed

The guideline value of Kinaru Street has seen several revisions over the years. In the 2007 revision, the value was Rs 100 per sq.ft, which increased to Rs 200 per sq.ft in 2012. However, there was a decrease to Rs 134 per sq.ft in the 2017 revision. From 2017 to 2023, the value rose significantly to Rs 200 per sq.ft, and in the latest 2024 revision, it reached Rs 220 per sq.ft. The changes between these revisions show an overall increase of 120% from 2007 to 2024.

It is important to note that there are no figures available for Kinaru Street in the 2002 and 2003 revisions. The increase from 2023 to 2024 was 10%, while the rise from 2012 to 2017 was a decrease of 33%. The substantial increase of 49% occurred between 2017 and 2023, showcasing the fluctuations in the guideline value over time.

Guideline values in Seemapuram

In Seemapuram village, there are 13 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 110 to Rs 1,600 per sq.ft. The median value among these streets is Rs 220 per sq.ft, which is equal to the guideline value of Kinaru Street.

• Kavarai Street: Rs 220 per sq.ft (2024)
• Kurukku Street: Rs 220 per sq.ft (2024)
• Kadaisi Street: Rs 110 per sq.ft (2024)
• Mettu Street: Rs 220 per sq.ft (2024)
• Mother Therasa Garden: Rs 1,600 per sq.ft (2024)
• Chakkili Street: Rs 110 per sq.ft (2024)

Stamp duty and registration fee for property in Kinaru Street

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty, charged at 7%, would be Rs 15,400, while the registration fee at 2% would be Rs 4,400. Together, the total fees would amount to Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kinaru Street?

Kinaru Street falls under the jurisdiction of the Redhills Sub Registrar Office. The office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Seemapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions based on current market conditions.

Frequently asked questions

What is the current guideline value of Kinaru Street?

The current guideline value of Kinaru Street is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Kinaru Street has changed from Rs 100 per sq.ft in 2007 to Rs 220 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What are the stamp duty and registration fees for a property in Kinaru Street?

The stamp duty for a property valued at Rs 2,20,000 is Rs 15,400, and the registration fee is Rs 4,400, totaling Rs 19,800.

Which Sub Registrar Office covers Kinaru Street?

Kinaru Street is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Kinaru Street?

Kinaru Street is classified as Residential Class I Type - I, which indicates its suitability for residential development.