Guideline Value for SALPHAN KUTTAI MAIN ROAD

Salphan Kuttai Main Road guideline value

The current guideline value of Salphan Kuttai Main Road is Rs 1,980 per sq.ft, effective from 1 July 2024. This road is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Salphan Kuttai Main Road has changed

Over the years, the guideline value of Salphan Kuttai Main Road has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision, marking a decrease of 33%. In the 2023 revision, the value increased to Rs 1,800 per sq.ft, and the latest revision in 2024 has raised it further to Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

In summary, from the 2017 revision to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the current 2024 value, there has been a total increase of 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft as of 2024. The median value for these streets is Rs 1,650 per sq.ft, placing Salphan Kuttai Main Road's 2024 figure above this median.

• Salphan Kuttai 2nd Cross Street: 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 Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that 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 Salphan Kuttai Main Road?

The Sub Registrar Office covering Salphan Kuttai Main Road 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 during property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the registration authority. It is essential to consider this value to avoid any discrepancies or issues during the registration process.

Frequently asked questions

What is the current guideline value of Salphan Kuttai Main Road?

The current guideline value of Salphan Kuttai Main Road 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 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Salphan Kuttai Main Road?

The land classification for Salphan Kuttai Main Road is Residential Class III Type - I.

Where can I find the Sub Registrar Office for Salphan Kuttai Main Road?

The Sub Registrar Office for Salphan Kuttai Main Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Salphan Kuttai Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 1,38,600 based on the guideline value.