Guideline Value for Kribith Street 3rd Street

Kribith Street 3rd Street guideline value

The current guideline value of Kribith Street 3rd 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, and is classified as Residential Class I Type - II.

How the guideline value of Kribith Street 3rd Street has changed

The guideline value for Kribith Street 3rd Street has seen several revisions over the years. In 2003, the guideline value was Rs 164 per sq.ft, which increased to Rs 500 per sq.ft in 2007. Following that, the value rose significantly to Rs 3,000 per sq.ft in 2012, before dropping to Rs 2,010 per sq.ft in 2017. The value then increased to Rs 3,000 per sq.ft in 2023, and finally, it reached Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1912%. The register does not have a figure for the year 2002 for this street.

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. The median guideline value is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Kribith Street 3rd Street.

• Kribith Street 1st Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 2nd Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 4th Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 5th Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 6th Street: Rs 3,300 per sq.ft (2024)
• Kribith Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kribith Street 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 detailed calculations.

Which Sub Registrar Office covers Kribith Street 3rd Street?

The Sub Registrar Office that covers Kribith Street 3rd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the 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 plays a crucial role during property registration in Issa Pallavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When buying or selling property, it is essential to be aware of the guideline value, as it impacts the overall transaction costs. Buyers should ensure that they are informed about the current guideline value to avoid any unexpected expenses during the registration process.

Frequently asked questions

What is the current guideline value of Kribith Street 3rd Street?

The current guideline value of Kribith Street 3rd 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 increased from Rs 164 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, showing a significant overall increase of 1912% over the years.

What is the registration office for Kribith Street 3rd Street?

The registration office for Kribith Street 3rd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Kribith Street 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.

What are the other streets in Issa Pallavaram with the same guideline value?

Other streets in Issa Pallavaram, such as Kribith Street 1st Street, 2nd Street, 4th Street, 5th Street, and 6th Street, also have a guideline value of Rs 3,300 per sq.ft for the year 2024.