Guideline Value for Kribith Street 4th Street

Kribith Street 4th Street guideline value

The current guideline value of Kribith Street 4th 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 4th Street has changed

The guideline value for Kribith Street 4th Street has evolved through several revisions. In 2003, the value was Rs 164 per sq.ft, which increased to Rs 500 per sq.ft in 2007. This was followed by a significant jump to Rs 3,000 per sq.ft in 2012, but the value then decreased to Rs 2,010 per sq.ft in 2017. The value rose again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as per the 2024 revision. The register has no figure for this street in 2002.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it has risen by 10%. Notably, the overall change from 2003 to 2024 reflects a remarkable increase of 1912%.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which aligns with the guideline value of Kribith Street 4th 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 3rd 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)

Stamp duty and registration fee for property in Kribith Street 4th 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, making the total cost 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kribith Street 4th Street?

The Sub Registrar Office that covers Kribith Street 4th 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 details.

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 determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value in accordance with government standards.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Kribith Street 4th Street?

The current guideline value of Kribith Street 4th 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 this period.

What is the role of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of a property, which affects the calculation of stamp duty and registration fees during property transactions.

Where is the Sub Registrar Office for Kribith Street 4th Street located?

The Sub Registrar Office for Kribith Street 4th Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How do I calculate stamp duty and registration fees for properties in Kribith Street 4th Street?

To calculate the stamp duty and registration fees, you can use the guideline value of the property. For example, a 1,000 sq.ft plot at Rs 3,300 per sq.ft would have a total guideline value of Rs 33,00,000, leading to specific stamp duty and registration fees as outlined in the article.