Guideline Value for Kribith Street 2nd Street

Kribith Street 2nd Street guideline value

The current guideline value of Kribith Street 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village, under the Pallavaram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Kribith Street 2nd Street has changed

The guideline value for Kribith Street 2nd Street has undergone several revisions over the years. In 2003, the guideline value was Rs 164 per sq.ft. This figure increased significantly to Rs 500 per sq.ft in 2007, marking a rise of 205%. Following that, the value saw a substantial jump to Rs 3,000 per sq.ft in 2012, which was an increase of 500%. However, in 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, representing a 10% increase from 2023.

The register has no figure for this street in 2002. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 1912%.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with the median being Rs 3,300 per sq.ft. The guideline value for Kribith Street 2nd Street is equal to this median.

• Kribith Street 1st Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 3rd Street: Rs 3,300 per sq.ft (2024)
• Kribith Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 4th Street: Rs 3,300 per sq.ft (2024)
• KRIBITH 4TH CROSS Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 5th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kribith Street 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, these fees total Rs 2,97,000. 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 Kribith Street 2nd Street?

The Sub Registrar Office that covers Kribith Street 2nd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Issa Pallavaram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, making the process transparent and standardized.

Frequently asked questions

What is the current guideline value of Kribith Street 2nd Street?

The current guideline value of Kribith Street 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 164 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1912% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers this street?

The Pallavaram Sub Registrar Office covers Kribith Street 2nd Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Kribith Street 2nd Street?

The land classification for Kribith Street 2nd Street is Residential Class I Type - II.