Guideline Value for SALPHAN KUTTAI 2ND CROSS STREET

Salphan Kuttai 2nd Cross Street guideline value

The current guideline value of Salphan Kuttai 2nd Cross Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Salphan Kuttai 2nd Cross Street has changed

The guideline value for Salphan Kuttai 2nd Cross Street has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 1,800 per sq.ft. Prior to that, the 2012 revision also had the value at Rs 1,800 per sq.ft, indicating no change from 2012 to 2023. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. This reflects the most recent adjustments made to the property values in the area.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Salphan Kuttai 2nd Cross Street's 2024 figure above the median.

• Salphan Kuttai Main Road: Rs 1,980 per sq.ft (2024)
• Salphan Kuttai Main Road Extn: Rs 1,980 per sq.ft (2024)
• Salphan Kuttai Street: Rs 1,980 per sq.ft (2024)
• Santhi Jeevi Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Sai Ganesh Nagar: Rs 2,200 per sq.ft (2024)
• Sai Balaji Nagar Main Road: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Salphan Kuttai 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost to Rs 1,78,200. Please 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 further calculations.

Which Sub Registrar Office covers Salphan Kuttai 2nd Cross Street?

The Sub Registrar Office that covers Salphan Kuttai 2nd Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of properties in the area.

Frequently asked questions

What is the current guideline value of Salphan Kuttai 2nd Cross Street?

The current guideline value of Salphan Kuttai 2nd Cross Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2023 to Rs 1,980 per sq.ft in 2024, marking a 10% increase. There was no change from 2012 to 2023, as the value remained at Rs 1,800 per sq.ft.

What is the land classification of Salphan Kuttai 2nd Cross Street?

Salphan Kuttai 2nd Cross Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Salphan Kuttai 2nd Cross Street?

The Chennai South Joint I Sub Registrar Office handles property registrations for Salphan Kuttai 2nd Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.