Guideline Value for Kundalakesi Street

Kundalakesi Street guideline value

The current guideline value of Kundalakesi Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kundalakesi Street has changed

The guideline value for Kundalakesi Street has seen 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. Following this, the value increased to Rs 1,200 per sq.ft in 2023, and finally, it rose to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2012 to 2017, there was a significant decrease of 33%, but from 2017 to 2023, the value increased by 49%. 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 Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft, which indicates that Kundalakesi Street's 2024 figure is below that median.

• Krishna Nagar: Rs 2,400 per sq.ft (2024)
• Krishna Avenue Main Road: Rs 1,900 per sq.ft (2024)
• Krishna Avenue 2nd Street: Rs 1,900 per sq.ft (2024)
• Krishna Avenue 1st Street: Rs 1,900 per sq.ft (2024)
• Krishna Avenue: Rs 1,900 per sq.ft (2024)
• Koushik Avenue Ext III: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Kundalakesi Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the 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 or the sale price.

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

Which Sub Registrar Office covers Kundalakesi Street?

The Sub Registrar Office that covers Kundalakesi 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, within the Chengalpattu registration zone. You can find your SRO here.

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

The guideline value plays a crucial role in property transactions in Rajakilpakkam. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on the property's value.

When buying or selling property, the guideline value serves as a benchmark for both the buyer and the seller, ensuring transparency in the transaction process. It is essential to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kundalakesi Street?

The current guideline value of Kundalakesi 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, which is an increase of 8%. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What are the stamp duty and registration fees for property in Kundalakesi Street?

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

Which Sub Registrar Office covers Kundalakesi Street?

Kundalakesi Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value for properties, ensuring that appropriate stamp duty and registration fees are collected. It serves as a benchmark for buyers and sellers during property transactions.