Guideline Value for Sakunthala Third Cross Street

Sakunthala Third Cross Street guideline value

The current guideline value of Sakunthala Third 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, classified as Residential Class I Type - III.

How the guideline value of Sakunthala Third Cross Street has changed

The guideline value for Sakunthala Third Cross Street has seen several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 500 per sq.ft, marking a 49% rise. The most recent revision in 2024 has set the value at Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Kaspapuram

Kaspapuram village has 76 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 440 to Rs 4,300 per sq.ft. The median value of these streets is Rs 1,100 per sq.ft, making the guideline value of Sakunthala Third Cross Street below the median.

• Sakunthala Second Cross Street: Rs 550 per sq.ft (2024)
• Sakunthala First 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 Third Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the 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, totaling 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakunthala Third Cross Street?

The Sakunthala Third 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Kaspapuram. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

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

The current guideline value of Sakunthala Third 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 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the median guideline value in Kaspapuram?

The median guideline value of the 76 streets in Kaspapuram under the Tambaram Joint 1 SRO is Rs 1,100 per sq.ft, which is higher than the value of Sakunthala Third Cross Street.

What are the stamp duty and registration fees for property in Sakunthala Third Cross Street?

The stamp duty for property in Sakunthala Third Cross Street is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 49,500.

Where can I find the Sub Registrar Office for Sakunthala Third Cross Street?

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