Guideline Value for Kribith Street 6th Street

Kribith Street 6th Street guideline value

The current guideline value for Kribith Street 6th 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 6th Street has changed

The guideline value for Kribith Street 6th Street has seen several revisions over the years. In 2003, the guideline value was Rs 164 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2007. The value then rose dramatically to Rs 3,000 per sq.ft in 2012, before dropping to Rs 2,010 per sq.ft in 2017. Following this, the value increased to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision. The changes between these revisions include a 205% increase from 2003 to 2007, a 500% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

It is important to note that the register has no figure for Kribith Street 6th Street for the year 2002.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 figure ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the current figure for Kribith Street 6th Street.

• Kribith Street 5th Street: Rs 3,300 per sq.ft (2024)
• Kribith Street 4th 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 6th 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, totaling 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 information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kribith Street 6th Street?

The Sub Registrar Office that covers Kribith Street 6th 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 is a crucial factor in property transactions in Issa Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation set by the government.

In the registration process, the buyer and seller must adhere to the guideline value to ensure compliance with legal requirements. This value helps in maintaining transparency in property transactions and protects the interests of both parties involved.

Frequently asked questions

What is the current guideline value of Kribith Street 6th Street?

The current guideline value of Kribith Street 6th 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, showing an overall increase of 1912% over the years.

What is the land classification for Kribith Street 6th Street?

Kribith Street 6th Street is classified as Residential Class I Type - II under the Pallavaram SRO.

Where can I find the Sub Registrar Office for Kribith Street 6th Street?

The Sub Registrar Office for Kribith Street 6th Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Kribith Street 6th Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000.