Guideline Value for KALAIMAGAL NAGAR 2nd STREET 5th CROSS

KALAIMAGAL NAGAR 2nd STREET 5th CROSS guideline value

The current guideline value of KALAIMAGAL NAGAR 2nd STREET 5th CROSS is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village under the Neelankarai SRO and is classified as Residential Class II Type - III.

How the guideline value of KALAIMAGAL NAGAR 2nd STREET 5th CROSS has changed

Over the years, the guideline value for KALAIMAGAL NAGAR 2nd STREET 5th CROSS has undergone several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,005 per sq.ft. The value remained unchanged in the 2012 revision. The 2023 revision saw an increase to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,700 per sq.ft in the 2024 revision, marking a 13% rise from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 1,500 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 13%. It is important to note that there are no figures available 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 is Rs 1,700 per sq.ft, which is equal to the 2024 figure for KALAIMAGAL NAGAR 2nd STREET 5th CROSS.

• KALAIMAGAL NAGAR 2nd STREET 4th 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 2nd CROSS: Rs 1,700 per sq.ft (2024)
• KALAIMAGAL NAGAR 2nd STREET 1st CROSS: Rs 1,700 per sq.ft (2024)
• KALAIMAGAL NAGAR 2nd STREET: 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 5th 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. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers KALAIMAGAL NAGAR 2nd STREET 5th CROSS?

The KALAIMAGAL NAGAR 2nd STREET 5th CROSS is covered by 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 in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property sales.

When a property is registered, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded at a fair value, reflecting the current market conditions as determined by the guideline value.

Frequently asked questions

What is the current guideline value of KALAIMAGAL NAGAR 2nd STREET 5th CROSS?

The current guideline value of KALAIMAGAL NAGAR 2nd STREET 5th 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 2023 to Rs 1,700 per sq.ft in 2024, marking a 13% increase. It increased from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, a rise of 49%.

What is the land classification of KALAIMAGAL NAGAR 2nd STREET 5th CROSS?

KALAIMAGAL NAGAR 2nd STREET 5th CROSS is classified as Residential Class II Type - III. This classification is important for understanding the permissible uses of the land.

Where can I find information about stamp duty and registration fees?

Information about stamp duty and registration fees can be calculated using the stamp duty and registration fee calculator. This tool helps buyers understand the costs involved in property transactions.

Which office handles the registration for KALAIMAGAL NAGAR 2nd STREET 5th CROSS?

The Neelankarai Sub Registrar Office handles the registration for KALAIMAGAL NAGAR 2nd STREET 5th CROSS, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.