Guideline Value for South Street

South Street guideline value

The current guideline value of South Street in Kunrathour-B village, under the Kunrathur SRO, is Rs 2,090 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - II.

How the guideline value of South Street has changed

The guideline value for South Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,090 per sq.ft, which is an increase from Rs 1,900 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the value was Rs 1,273 per sq.ft, indicating a significant increase of +49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has risen by +64%.

It is important to note that there are no recorded figures for South Street in the revisions for the years 2002, 2003, 2007, and 2012. The absence of figures in these years means that the guideline value has not been established for this street during those periods.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 5,130 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, positioning South Street's 2024 figure above that median.

• Sri Arunachaleshwarar Nagar: Rs 1,540 per sq.ft (2024)
• SivaVishnu Nagar 3rd Street: Rs 2,090 per sq.ft (2024)
• SivaVishnu Nagar 2nd Street: Rs 2,090 per sq.ft (2024)
• SivaVishnu Nagar 1st Street: Rs 2,090 per sq.ft (2024)
• Sri Bhagavathy Nagar: Rs 1,760 per sq.ft (2024)
• Sri Boopala Vinayagar Nagar & Extn: Rs 1,760 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 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, while the registration fee at 2% would be Rs 41,800. Together, the total cost for stamp duty and registration fee would be Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers South Street?

The Sub Registrar Office that covers South Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value is a crucial factor when registering property transactions in Kunrathour-B. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration process is transparent and standardized.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of South Street?

The current guideline value of South Street is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for South Street has increased from Rs 1,273 per sq.ft in 2017 to Rs 2,090 per sq.ft in 2024, reflecting an overall increase of +64%.

What is the land classification for South Street?

The land classification for South Street is Mixed Special Type - II, indicating its diverse usage potential.

Where can I find the Sub Registrar Office for South Street?

The Sub Registrar Office for South Street is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 20,90,000, the stamp duty would be Rs 1,46,300 at a rate of 7%.