Guideline Value for KALAIGNAR KARUNANITHI STREET (WARD-20)

Kalaignar Karunanithi Street (Ward-20) guideline value

The current guideline value of Kalaignar Karunanithi Street (Ward-20) is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Vallancheri village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kalaignar Karunanithi Street (Ward-20) has changed

The guideline value for Kalaignar Karunanithi Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was set at Rs 1,000 per sq.ft. This figure remained unchanged in the subsequent revision in 2017, where it decreased to Rs 670 per sq.ft. However, the value increased again to Rs 1,000 per sq.ft in 2023, and further rose to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between 2017 and 2023, there was a significant increase of 49%, while the change from 2012 to 2017 represented a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 825 per sq.ft, placing Kalaignar Karunanithi Street's 2024 figure above this median.

• Kakkan Street Mgr Nagar (Ward-20): Rs 880 per sq.ft (2024)
• Kalaimagal Street (Ward-21): Rs 660 per sq.ft (2024)
• Kalaivani Nagar Main Road (Ward -1): Rs 770 per sq.ft (2024)
• Kaathavarayan Koil Street (Ward -1): Rs 770 per sq.ft (2024)
• Kamarajar Street (Ward-21): Rs 660 per sq.ft (2024)
• Kamatchi Nagar (Val): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaignar Karunanithi Street (Ward-20)

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is essential 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 Kalaignar Karunanithi Street (Ward-20)?

Kalaignar Karunanithi Street (Ward-20) falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical component in the property registration process in Vallancheri. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that transactions are conducted fairly and transparently.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for completing the legal transfer of ownership. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Kalaignar Karunanithi Street?

The current guideline value of Kalaignar Karunanithi Street (Ward-20) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024, marking a 10% increase. It was Rs 670 per sq.ft in 2017 and Rs 1,000 per sq.ft in 2012.

What is the land classification of Kalaignar Karunanithi Street?

Kalaignar Karunanithi Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000. Fees are based on the higher of the guideline value or the sale price.

Which office handles registrations for Kalaignar Karunanithi Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Kalaignar Karunanithi Street, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.