Guideline Value for KALAIMAGAL NAGAR 2ND CROSS STREET

Kalaimagal Nagar 2nd Cross Street guideline value

The current guideline value of Kalaimagal Nagar 2nd Cross Street is Rs 6,610 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO, with a land classification of Commercial Class I Type - II.

How the guideline value of Kalaimagal Nagar 2nd Cross Street has changed

The guideline value for Kalaimagal Nagar 2nd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 709 per sq.ft. This value increased to Rs 818 per sq.ft in 2003, marking a 15% rise. In 2007, the value saw a significant jump to Rs 1,000 per sq.ft, an increase of 22%. The 2012 revision brought the value back up to Rs 6,000 per sq.ft, a substantial 500% increase from 2007. However, in 2017, the value decreased to Rs 4,020 per sq.ft, a decline of 33%. The subsequent revision in 2023 set the value at Rs 6,000 per sq.ft, followed by the latest revision in 2024, which raised it to Rs 6,610 per sq.ft, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 832%. There are no figures available for the years not listed in the register for this street.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. The guideline value of Kalaimagal Nagar 2nd Cross Street is above this median.

• Kalaimagal Nagar 2nd Main Road: Rs 6,610 per sq.ft (2024)
• Kalaimagal Nagar 1st Street: Rs 6,610 per sq.ft (2024)
• Kalaimagal Nagar 2nd Street: Rs 6,610 per sq.ft (2024)
• Kalaimagal Nagar 1st Main Road: Rs 6,610 per sq.ft (2024)
• Kalaimagal Nagar 1st Cross Street: Rs 6,610 per sq.ft (2024)
• Kalaimagal Nagar 3rd Cross Street: Rs 6,610 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaimagal Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,610 per sq.ft, the total guideline value would be Rs 66,10,000. The stamp duty at 7% would amount to Rs 4,62,700, and the registration fee at 2% would be Rs 1,32,200, bringing the total fees together to Rs 5,94,900. It is important to note that 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 2nd Cross Street?

The Sub Registrar Office that covers Kalaimagal Nagar 2nd Cross Street 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 information.

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

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

When buying or selling a property, the guideline value helps in assessing the financial obligations involved in the transaction. Buyers must be aware of the guideline value to understand the costs associated with registration, as it directly impacts the stamp duty and registration fees payable.

Frequently asked questions

What is the current guideline value of Kalaimagal Nagar 2nd Cross Street?

The current guideline value of Kalaimagal Nagar 2nd Cross Street is Rs 6,610 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 709 per sq.ft in 2002 to Rs 6,610 per sq.ft in 2024, reflecting an overall increase of 832% over the years.

What is the land classification for Kalaimagal Nagar 2nd Cross Street?

Kalaimagal Nagar 2nd Cross Street is classified as Commercial Class I Type - II.

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

For a property valued at Rs 66,10,000, the stamp duty would be Rs 4,62,700, and the registration fee would be Rs 1,32,200, totaling Rs 5,94,900.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Kalaimagal Nagar 2nd Cross Street 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.