Guideline Value for Kulasekaran Street 2nd Street

Kulasekaran Street 2nd Street guideline value

The current guideline value of Kulasekaran Street 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class III Type - II.

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

The guideline value for Kulasekaran Street 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the value increased to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in 2024, reflecting an increase of 8% from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which means that Kulasekaran Street 2nd Street's 2024 figure is below this median.

• Kulasekaran Street 1st Street: Rs 1,300 per sq.ft (2024)
• Kulasekaran Street 3rd Street: Rs 1,300 per sq.ft (2024)
• Kulasekaran Street 4th Street: Rs 1,300 per sq.ft (2024)
• Kulasekaran 1st Main Road: Rs 1,300 per sq.ft (2024)
• Kulasekaraalwar Street: Rs 950 per sq.ft (2024)
• Kulasekeran 1st Cross Street: Rs 1,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kulasekaran Street 2nd Street?

The Sub Registrar Office that covers Kulasekaran Street 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Selaiyur

The guideline value is a crucial factor during the registration of property transactions in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When registering a property, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Kulasekaran Street 2nd Street?

Kulasekaran Street 2nd Street is classified as Residential Class III Type - II.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 13,00,000, the stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000.

Where is the Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.