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Guideline Value

Corporate

Guideline Value for KALAIMAGAL NAGAR 1st STREET

₹1700/sq.ft.

The guideline value for Kalaimagal Nagar 1st Street in Karapakkam village (Neelankarai SRO, Chennai zone) is Rs 1700 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 13% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Karapakkam

Village

Neelankarai

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹1700 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹311 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Kalaimagal Nagar 1st Street

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KALAIMAGAL NAGAR 1st STREET guideline value

The current guideline value of KALAIMAGAL NAGAR 1st STREET is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of KALAIMAGAL NAGAR 1st STREET has changed

The guideline value for KALAIMAGAL NAGAR 1st STREET has seen several revisions over the years. In the 2007 revision, the value was Rs 311 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, there was a decrease in the 2017 revision, bringing the value down to Rs 1,005 per sq.ft. The 2023 revision saw a substantial increase to Rs 1,500 per sq.ft, followed by another increase to Rs 1,700 per sq.ft in 2024, marking a 13% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2007 to 2024 is a remarkable 447%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value is Rs 1,700 per sq.ft, which is equal to the 2024 figure for KALAIMAGAL NAGAR 1st STREET.

Stamp duty and registration fee for property in KALAIMAGAL NAGAR 1st 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 fees together 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers KALAIMAGAL NAGAR 1st STREET?

The Sub Registrar Office that covers KALAIMAGAL NAGAR 1st STREET is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical component in the registration process when buying or selling property in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This process helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of KALAIMAGAL NAGAR 1st STREET?

The current guideline value of KALAIMAGAL NAGAR 1st STREET is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, from Rs 311 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, marking an overall increase of 447%.

What is the land classification for KALAIMAGAL NAGAR 1st STREET?

The land classification for KALAIMAGAL NAGAR 1st STREET is Residential Class II Type - III.

What are the stamp duty rates applicable in KALAIMAGAL NAGAR 1st STREET?

The stamp duty rate applicable in KALAIMAGAL NAGAR 1st STREET is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.