Guideline Value for KALAIGNAR NAGAR

Kalaignar Nagar guideline value

The current guideline value of Kalaignar Nagar in Kolathuvancheri village is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Kalaignar Nagar has changed

The guideline value for Kalaignar Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, reflecting a growth of 140%. However, it then decreased to Rs 804 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 1,200 per sq.ft in 2023, and most recently, it has been revised to Rs 1,320 per sq.ft in 2024, representing a 10% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 164%.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 660 to Rs 4,600 per sq.ft. The median value is Rs 1,650 per sq.ft, placing the guideline value of Kalaignar Nagar below this median.

• Janakiram Nagar: Rs 2,200 per sq.ft (2024)
• Karthik Avenue: Rs 990 per sq.ft (2024)
• Karthik Avenue 1st Street: Rs 990 per sq.ft (2024)
• Karthik Avenue 2nd Street: Rs 990 per sq.ft (2024)
• Kaveri Street: Rs 1,650 per sq.ft (2024)
• Guberalakshmi Nagar: Rs 1,480 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaignar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information on fees.

Which Sub Registrar Office covers Kalaignar Nagar?

The Sub Registrar Office that covers Kalaignar Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Kolathuvancheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it may influence negotiation strategies and the final sale price. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can affect overall costs.

Frequently asked questions

What is the current guideline value of Kalaignar Nagar?

The current guideline value of Kalaignar Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 164% over the years.

What are the stamp duty rates applicable in Kalaignar Nagar?

The stamp duty rate for properties in Kalaignar Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kalaignar Nagar?

The Sub Registrar Office for Kalaignar Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the significance of the guideline value in property transactions?

The guideline value serves as a minimum benchmark for property registration, impacting the calculation of stamp duty and registration fees during property transactions.