Guideline Value for South Street

South Street guideline value

The current guideline value of South Street in Thirukalukundrem A village, under the Thirukazhukundram SRO, is Rs 805 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - III.

How the guideline value of South Street has changed

Over the years, the guideline value of South Street has seen several revisions. The 2017 revision set the value at Rs 536 per sq.ft, which was increased to Rs 800 per sq.ft in the 2023 revision. The most recent revision in 2024 has raised the guideline value to Rs 805 per sq.ft, marking a 1% increase from the previous year. Overall, from 2017 to 2024, there has been a significant increase of 50% in the guideline value.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for South Street. The changes between the revisions indicate a 49% increase from 2017 to 2023, showcasing a steady rise in the guideline value over the years.

Guideline values in Thirukalukundrem A

In Thirukalukundrem A, there are 149 streets under the Thirukazhukundram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 1,344 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing South Street's 2024 figure above this median.

• South Kulakarai Street: Rs 400 per sq.ft (2024)
• Sri Jeeva Avenue: Rs 523 per sq.ft (2024)
• Sri Jeeva Avenue Phase I: Rs 350 per sq.ft (2024)
• Selliamman Koil Street: Rs 700 per sq.ft (2024)
• Sayakkara Street: Rs 600 per sq.ft (2024)
• Sasthiru Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in South Street

For a 1,000 sq.ft plot at the current guideline value of Rs 805 per sq.ft, the total guideline value would be Rs 8,05,000. The stamp duty at 7% would amount to Rs 56,350, while the registration fee at 2% would be Rs 16,100. Together, the total cost for stamp duty and registration fees would be Rs 72,450. 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 South Street?

The Sub Registrar Office that covers South Street is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Thirukalukundrem A. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements.

When a property is sold, the guideline value is considered as a benchmark for calculating the applicable fees. It is essential for both parties involved in a transaction to understand how the guideline value affects their financial obligations during the sale process.

Frequently asked questions

What is the current guideline value of South Street?

The current guideline value of South Street is Rs 805 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 536 per sq.ft to Rs 805 per sq.ft in 2024, marking a total increase of 50% over this period.

What are the stamp duty and registration fees for property in South Street?

For a 1,000 sq.ft plot at the guideline value of Rs 805 per sq.ft, the total stamp duty would be Rs 56,350 and the registration fee would be Rs 16,100, totaling Rs 72,450.

Which Sub Registrar Office covers South Street?

The Thirukazhukundram Sub Registrar Office covers South Street, located at Thiruchengode - 637 211, Chengalpattu registration zone.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a benchmark for determining the financial obligations of buyers and sellers when registering a property.