Guideline Value for Sakunthala First Cross Street

Sakunthala First Cross Street guideline value

The current guideline value of Sakunthala First Cross Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Kaspapuram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Sakunthala First Cross Street has changed

The guideline value for Sakunthala First Cross Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 550 per sq.ft, which is an increase from Rs 500 per sq.ft in 2023, reflecting a 10% rise. Prior to that, the 2017 revision recorded a value of Rs 335 per sq.ft, marking a significant increase of 49% when compared to the 2023 figure. The 2012 revision had the guideline value at Rs 500 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the first recorded value in the register is from 2012. This historical context helps in understanding how the guideline value has evolved over time.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 4,300 per sq.ft as of 2024. The median guideline value in this area is Rs 1,100 per sq.ft, indicating that the guideline value of Sakunthala First Cross Street is below this median.

• Sakunthala Second Cross Street: Rs 550 per sq.ft (2024)
• Sakunthala Third Cross Street: Rs 550 per sq.ft (2024)
• Sairak Nagar: Rs 1,100 per sq.ft (2024)
• Sai Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Rajiv Gandhi Nagar Main Road: Rs 550 per sq.ft (2024)
• Shibin City: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sakunthala First Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, leading to a total cost of Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakunthala First Cross Street?

The Sakunthala First Cross Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Kaspapuram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sakunthala First Cross Street?

The current guideline value of Sakunthala First Cross Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024, a 10% increase. It was Rs 335 per sq.ft in 2017 and Rs 500 per sq.ft in 2012, showing a significant increase and decrease in the intervening years.

What is the land classification for Sakunthala First Cross Street?

Sakunthala First Cross Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the registration office for this street?

The registration office for Sakunthala First Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee Rs 11,000.