Guideline Value for Kribith Street 5th Street

Kribith Street 5th Street guideline value

The current guideline value of Kribith Street 5th 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 5th Street has changed

The guideline value for Kribith Street 5th Street has undergone several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 164 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2007, followed by a substantial rise to Rs 3,000 per sq.ft in 2012. However, the value saw a decrease to Rs 2,010 per sq.ft in 2017. The next revision in 2023 brought the value up to Rs 3,000 per sq.ft, and the most recent revision in 2024 set the current guideline value at Rs 3,300 per sq.ft. Notably, there is no figure available for the year 2002 in the register for this street.

Between these revisions, the changes were significant. From 2003 to 2007, the value increased by 205%. The jump from 2007 to 2012 was a remarkable 500%, while the decline from 2012 to 2017 was 33%. The value rose by 49% from 2017 to 2023, and finally, from 2023 to 2024, there was an increase of 10%. Overall, from 2003 to 2024, the guideline value has increased by 1912%.

Guideline values in Issa Pallavaram

In Issa Pallavaram village, 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 the same as the current value for Kribith Street 5th Street.

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

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kribith Street 5th Street?

The Sub Registrar Office that covers Kribith Street 5th 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 when buying or selling property in Issa Pallavaram. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a reference point for calculating the applicable fees. It is essential for both parties to be aware of this value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Kribith Street 5th Street?

The current guideline value of Kribith Street 5th 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 is the land classification for Kribith Street 5th Street?

Kribith Street 5th Street is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Kribith Street 5th Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in this area?

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