Guideline Value for Kundalakasi Street

Kundalakasi Street guideline value

The current guideline value of Kundalakasi Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kundalakasi Street has changed

The guideline value for Kundalakasi Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,000 per sq.ft. This figure changed to Rs 670 per sq.ft in the 2017 revision, reflecting a decrease of 33%. However, the value saw a significant increase to Rs 1,000 per sq.ft in the 2023 revision, and then further rose to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Kundalakasi Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, making the 2024 guideline value of Kundalakasi Street below the median.

• Kumaran Street: Rs 1,100 per sq.ft (2024)
• Kurinji Nagar Cross Street: Rs 1,100 per sq.ft (2024)
• Kurinji Street: Rs 1,320 per sq.ft (2024)
• Lakshmi cross st: Rs 1,100 per sq.ft (2024)
• Krishnaveniammal Street: Rs 1,320 per sq.ft (2024)
• Lakshmi Narasimhan Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kundalakasi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Kundalakasi Street?

The Sub Registrar Office that covers Kundalakasi Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Peerklankaranai

The guideline value is a crucial factor in the registration process when buying or selling property in Peerklankaranai. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When registering a property, the guideline value serves as a benchmark, and the fees are calculated based on this value or the actual sale price, whichever is higher. This ensures that all transactions are fairly assessed for taxation purposes.

Frequently asked questions

What is the current guideline value of Kundalakasi Street?

The current guideline value of Kundalakasi Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Kundalakasi Street?

Kundalakasi Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties on Kundalakasi Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles property registrations for Kundalakasi Street?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Kundalakasi Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.