Guideline Value for KALAIGNAR KARUNANITHI NAGAR (WARD -2)

Kalaignar Karunanithi Nagar (Ward -2) guideline value

The current guideline value for Kalaignar Karunanithi Nagar (Ward -2) is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Kalaignar Karunanithi Nagar (Ward -2) has changed

The guideline value for Kalaignar Karunanithi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which was then reduced to Rs 268 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 400 per sq.ft in the 2023 revision and further to Rs 440 per sq.ft in the 2024 revision. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. Subsequently, from 2017 to 2023, it increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Kalaignar Karunanithi Nagar (Ward -2) is below this median.

• Kalaimagal Nagar, Ninnakarai (Ward -19): Rs 660 per sq.ft (2024)
• Kaithe Millath Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kalaivanar Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Kaaraikazhani (Ward -2): Rs 440 per sq.ft (2024)
• Kaanthaliamman Koil Street (Ward -15): Rs 550 per sq.ft (2024)
• J.V.Avenue (Ward -19): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaignar Karunanithi Nagar (Ward -2)

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalaignar Karunanithi Nagar (Ward -2)?

The Sub Registrar Office that covers Kalaignar Karunanithi Nagar (Ward -2) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Sattamangalam

The guideline value is a crucial factor in property transactions as it determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the sale or purchase of property in Sattamangalam.

When buyers and sellers agree on a sale price, the stamp duty is charged on the higher of the guideline value or the sale price. This ensures that the state receives the appropriate revenue from property transactions based on established values.

Frequently asked questions

What is the current guideline value for Kalaignar Karunanithi Nagar (Ward -2)?

The current guideline value for Kalaignar Karunanithi Nagar (Ward -2) is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Kalaignar Karunanithi Nagar?

The land classification for Kalaignar Karunanithi Nagar (Ward -2) is Residential Class II Type - II.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles registrations for this area?

The Chengleput Joint II Sub Registrar Office handles registrations for Kalaignar Karunanithi Nagar (Ward -2), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.