Guideline Value for SELF HELP INDUSTRIAL ESTATE 1 TO 5 STREETS

Self Help Industrial Estate 1 To 5 Streets guideline value

The current guideline value for Self Help Industrial Estate 1 To 5 Streets is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kilkattalai village and falls under the Pallavaram SRO. The land classification for this street is Residential Class I Type - III.

How the guideline value of Self Help Industrial Estate 1 To 5 Streets has changed

The guideline value for Self Help Industrial Estate 1 To 5 Streets has undergone several revisions over the years. The 2024 revision sets the guideline value at Rs 2,200 per sq.ft, which is an increase from the 2023 revision of Rs 2,000 per sq.ft, marking a change of +10%. Prior to that, in 2017, the value was Rs 1,340 per sq.ft, which indicates a significant increase of +49% over the six years leading to 2023. The 2012 revision also recorded a value of Rs 2,000 per sq.ft, showing a decrease of -33% when compared to the 2017 figure.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by +10%, reflecting the changes in the real estate landscape.

Guideline values in Kilkattalai

In Kilkattalai, there are 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing the 2024 figure for Self Help Industrial Estate 1 To 5 Streets below this median.

• Self Help Private Industrial Estate: Rs 2,200 per sq.ft (2024)
• Sayee Street (Indian Lane): Rs 2,200 per sq.ft (2024)
• Sayee Nagar: Rs 2,200 per sq.ft (2024)
• Santhanakrishna Layout: Rs 2,160 per sq.ft (2024)
• Sandhiyamman Nagar: Rs 1,980 per sq.ft (2024)
• Sakthi Nagar Varasithi Vinayagar Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Self Help Industrial Estate 1 To 5 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Self Help Industrial Estate 1 To 5 Streets?

The Sub Registrar Office that covers Self Help Industrial Estate 1 To 5 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Kilkattalai. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the government.

When a property transaction occurs, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Self Help Industrial Estate 1 To 5 Streets?

The current guideline value for Self Help Industrial Estate 1 To 5 Streets is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a +10% increase. The value was Rs 1,340 per sq.ft in 2017, showing a +49% increase to 2023.

What are the registration fees for property in Self Help Industrial Estate 1 To 5 Streets?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which office handles registrations for this area?

The Pallavaram Sub Registrar Office handles registrations for Self Help Industrial Estate 1 To 5 Streets. It is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What should I know about the guideline value when buying property?

The guideline value is used to determine the stamp duty and registration fees during property transactions. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price.