Guideline Value for KALAIMAGAL NAGAR 2nd STREET

KALAIMAGAL NAGAR 2nd STREET guideline value

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

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

The guideline value for KALAIMAGAL NAGAR 2nd STREET has seen several revisions over the years. In 2007, the value was Rs 311 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 382%. However, this value dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 raised the value to Rs 1,500 per sq.ft, and the latest revision in 2024 set it at Rs 1,700 per sq.ft, reflecting an increase of 13% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 447%. Notably, the register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a guideline value for 2024, 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.

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

Stamp duty and registration fee for property in KALAIMAGAL NAGAR 2nd 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, making the total cost for these fees 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers KALAIMAGAL NAGAR 2nd STREET?

KALAIMAGAL NAGAR 2nd STREET 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 when registering property in Karapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees are accurately calculated based on this value.

When buying or selling property, the guideline value helps in assessing the applicable stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

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

The current guideline value of KALAIMAGAL NAGAR 2nd STREET 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 311 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 447% over the years.

Which Sub Registrar Office handles registrations for this street?

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

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

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

KALAIMAGAL NAGAR 2nd STREET is classified as Residential Class II Type - III, which is relevant for determining its guideline value.