Guideline Value for KALAIMAGAL NAGAR 2nd STREET 2nd CROSS

KALAIMAGAL NAGAR 2nd STREET 2nd CROSS guideline value

The current guideline value of KALAIMAGAL NAGAR 2nd STREET 2nd CROSS 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 with a land classification of Residential Class II Type - III.

How the guideline value of KALAIMAGAL NAGAR 2nd STREET 2nd CROSS has changed

Looking at the historical revisions, the guideline value for this street has undergone several changes. The 2012 revision recorded a value of Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023 and further to Rs 1,700 per sq.ft in 2024, marking a 13% increase from 2023 to 2024. The overall change from 2012 to 2024 reflects a 13% increase.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. It is important to note that the guideline register has no figures for the years 2002, 2003, and 2007 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 value for these streets is Rs 1,700 per sq.ft, which is equal to the guideline value of KALAIMAGAL NAGAR 2nd STREET 2nd CROSS.

• KALAIMAGAL NAGAR 2nd STREET 1st CROSS: Rs 1,700 per sq.ft (2024)
• KALAIMAGAL NAGAR 2nd STREET 3rd CROSS: Rs 1,700 per sq.ft (2024)
• KALAIMAGAL NAGAR 2nd STREET 4th CROSS: Rs 1,700 per sq.ft (2024)
• KALAIMAGAL NAGAR 2nd STREET: Rs 1,700 per sq.ft (2024)
• KALAIMAGAL NAGAR 2nd STREET 5th CROSS: Rs 1,700 per sq.ft (2024)
• KALAIMAGAL NAGAR 1st STREET: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in KALAIMAGAL NAGAR 2nd STREET 2nd CROSS

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers KALAIMAGAL NAGAR 2nd STREET 2nd CROSS?

The KALAIMAGAL NAGAR 2nd STREET 2nd CROSS falls under 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 crucial factor in the registration process when buying or selling property. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation set by the government.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of KALAIMAGAL NAGAR 2nd STREET 2nd CROSS?

The current guideline value of KALAIMAGAL NAGAR 2nd STREET 2nd CROSS is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for KALAIMAGAL NAGAR 2nd STREET 2nd CROSS?

The land classification for KALAIMAGAL NAGAR 2nd STREET 2nd CROSS is Residential Class II Type - III.

Which Sub Registrar Office handles the registration for this area?

The Neelankarai Sub Registrar Office handles the registration for KALAIMAGAL NAGAR 2nd STREET 2nd CROSS, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at a rate of 7%.