Guideline Value for Dr. Kalaingar Street

Dr. Kalaingar Street guideline value

The current guideline value of Dr. Kalaingar Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Moovarasampattu village under the Alandur SRO, classified as Residential Class II Type - I.

How the guideline value of Dr. Kalaingar Street has changed

The guideline value for Dr. Kalaingar Street has undergone several revisions over the years. In the 2002 revision, the value was Rs 126 per sq.ft, which increased to Rs 139 per sq.ft in 2003. The value saw a significant rise to Rs 400 per sq.ft in 2007, followed by a substantial increase to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017. The value then rose again to Rs 1,500 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 1,700 per sq.ft.

Between the revisions, the changes were as follows: from 2002 to 2003, the increase was +10%; from 2003 to 2007, the increase was +188%; from 2007 to 2012, the increase was +275%; from 2012 to 2017, the decrease was -33%; from 2017 to 2023, the increase was +49%; and finally, from 2023 to 2024, the increase was +13%. Overall, from 2002 to 2024, the guideline value has increased by +1249%.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO that carry a guideline value for 2024, ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Dr. Kalaingar Street's 2024 figure below that median.

• Engineering Avenue: Rs 3,300 per sq.ft (2024)
• Deffence colony 1st Street: Rs 3,900 per sq.ft (2024)
• Ganesh Street Cross(BALAIYA NAGAR): Rs 3,300 per sq.ft (2024)
• Ganesh Street Main(BALAIYA NAGAR): Rs 3,300 per sq.ft (2024)
• Ganga Nagar Extension: Rs 3,300 per sq.ft (2024)
• Ganga Nagar Main: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Kalaingar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Dr. Kalaingar Street?

The Sub Registrar Office that covers Dr. Kalaingar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Moovarasampattu, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling property, it is essential to consider the guideline value, as it ensures that the transaction is compliant with the regulations set by the Registration Department. This compliance helps in avoiding any legal issues that may arise from undervaluing the property.

Frequently asked questions

What is the current guideline value of Dr. Kalaingar Street?

The current guideline value of Dr. Kalaingar Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 126 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of +1249%.

What is the land classification of Dr. Kalaingar Street?

Dr. Kalaingar Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Dr. Kalaingar Street?

The Sub Registrar Office for Dr. Kalaingar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Moovarasampattu?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at a rate of 7%.