Guideline Value for SALAI STREET

Salai Street guideline value

The current guideline value of Salai Street is Rs 3,300 per sq.ft, effective from 1 July 2024. It is located in Kanchipuram Town village, under the Kanchipuram Joint I SRO, and classified as Residential Special Type - III.

How the guideline value of Salai Street has changed

Over the years, the guideline value of Salai Street has seen significant changes. In the 2007 revision, the value was Rs 700 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 329%. However, in the 2017 revision, the value dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. The 2023 revision saw the value increase again to Rs 3,000 per sq.ft, followed by a further rise to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, the guideline value has increased by 371% from 2007 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kanchipuram Town

In Kanchipuram Town, there are 85 streets under the Kanchipuram Joint I SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median value is Rs 1,650 per sq.ft, placing Salai Street's 2024 figure above this median.

• Sangeetha Vithvan Nainapillai Street (Or)puthheri Street: Rs 2,750 per sq.ft (2024)
• Sarvatheertham Melkarai Street: Rs 1,210 per sq.ft (2024)
• Sarvatheertham Street: Rs 1,210 per sq.ft (2024)
• Sarvatheertham Thenkarai Street: Rs 1,210 per sq.ft (2024)
• Sarvatheertham Vadakarai Street: Rs 1,210 per sq.ft (2024)
• Sathhan Kuttai Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Salai Street

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 33,00,000. The stamp duty at 7% would be 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Salai Street?

The Sub Registrar Office that covers Salai Street is the Kanchipuram Joint I Sub Registrar Office, located at No.52 Orikkai Madura, Udhayamangalam Village, Near Anna Kudiyiruppu, Kanchipuram -631502, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kanchipuram Town. It serves as a benchmark for determining the minimum value of a property, ensuring that the registration fees and stamp duties are calculated accurately.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Salai Street?

The current guideline value of Salai 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 increased significantly from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 371%.

What is the land classification for Salai Street?

Salai Street is classified as Residential Special Type - III.

Where can I find the Kanchipuram Joint I SRO?

The Kanchipuram Joint I Sub Registrar Office is located at No.52 Orikkai Madura, Udhayamangalam Village, Near Anna Kudiyiruppu, Kanchipuram -631502, Chengalpattu registration zone.

How is the stamp duty calculated for properties on Salai Street?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,97,000.