Guideline Value for Kulasekeran 1st Cross Street

Kulasekeran 1st Cross Street guideline value

The current guideline value of Kulasekeran 1st Cross 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 falls under the Residential Class III Type - II land classification.

How the guideline value of Kulasekeran 1st Cross Street has changed

The guideline value for Kulasekeran 1st Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and further to Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year.

In terms of percentage changes, the value rose by 49% from 2017 to 2023 and saw a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO that carry 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, indicating that the guideline value for Kulasekeran 1st Cross Street is below this median.

• Kulasekeran 2nd Cross Street: Rs 1,300 per sq.ft (2024)
• Kulasekeran 3rd Cross Street: Rs 1,300 per sq.ft (2024)
• Kulasekaran Street 4th Street: Rs 1,300 per sq.ft (2024)
• Kulasekeran 4th Cross Street: Rs 1,300 per sq.ft (2024)
• Kulasekaran Street 3rd Street: Rs 1,300 per sq.ft (2024)
• Kulasekeran Street 2nd Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kulasekeran 1st Cross 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 cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kulasekeran 1st Cross Street?

The Sub Registrar Office that covers Kulasekeran 1st Cross 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 plays a crucial role in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the value of the property, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the stamp duty and registration fees are calculated 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 Kulasekeran 1st Cross Street?

The current guideline value of Kulasekeran 1st Cross 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 2023 to Rs 1,300 per sq.ft in 2024, reflecting an 8% increase. It decreased from Rs 1,200 to Rs 804 per sq.ft between 2012 and 2017, and increased by 49% from 2017 to 2023.

What is the land classification for Kulasekeran 1st Cross Street?

Kulasekeran 1st Cross Street is classified under Residential Class III Type - II land classification.

Where can I find the Selaiyur Sub Registrar Office?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,300 per sq.ft would incur a total guideline value of Rs 13,00,000, with corresponding fees based on this value.