Guideline Value for SALPHAN KUTTAI STREET

Salphan Kuttai Street guideline value

The current guideline value of Salphan Kuttai Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street 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 Street has changed

Over the years, the guideline value of Salphan Kuttai Street has seen significant changes. In 2002, the guideline value was Rs 162 per sq.ft. This increased to Rs 191 per sq.ft in 2003, marking an 18% rise. The value further increased to Rs 400 per sq.ft in 2007, a substantial jump of 109%. By 2012, the guideline value remained at Rs 1,800 per sq.ft, showing no change from the previous revision. In 2023, the value was again Rs 1,800 per sq.ft, and then it increased by 10% to Rs 1,980 per sq.ft in 2024.

It is important to note that there is no figure available for Salphan Kuttai Street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by 1,122%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, 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, making Salphan Kuttai Street's 2024 figure above the median.

• Salphan Kuttai Main Road Extn: Rs 1,980 per sq.ft (2024)
• Salphan Kuttai Main Road: Rs 1,980 per sq.ft (2024)
• Salphan Kuttai 2nd Cross 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 1,980 per sq.ft, the 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 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 Salphan Kuttai Street?

Salphan Kuttai Street is covered by 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 plays a crucial role when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during property transactions.

When a property is registered, the guideline value is used to calculate the applicable fees. This ensures that all transactions are transparent and that the government receives the correct amount of revenue from property sales. Understanding the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Salphan Kuttai Street?

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

How much has the guideline value changed over the years?

From 2002 to 2024, the guideline value has increased by 1,122%. Significant changes occurred between 2007 and 2012, where it rose from Rs 400 to Rs 1,800 per sq.ft.

What is the land classification for Salphan Kuttai Street?

Salphan Kuttai Street is classified as Residential Class III Type - I. This classification indicates the type of development permitted in the area.

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

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

How is stamp duty calculated for properties in Salphan Kuttai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 19,80,000 would incur a stamp duty of Rs 1,38,600 at a rate of 7%.