Guideline Value for KALAIMAGAL NAGAR 3RD CROSS STREET

Kalaimagal Nagar 3rd Cross Street guideline value

The current guideline value of Kalaimagal Nagar 3rd Cross Street is Rs 6,610 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village, under the Chennai South Joint I SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Kalaimagal Nagar 3rd Cross Street has changed

The guideline value for Kalaimagal Nagar 3rd Cross Street has seen significant changes over the years. In 2002, the value was Rs 709 per sq.ft, which increased to Rs 818 per sq.ft in 2003, marking a 15% rise. The subsequent revisions show a notable increase, with the value reaching Rs 1,000 per sq.ft in 2007, representing a 22% increase from the previous year. By 2012, the value reverted to Rs 6,000 per sq.ft, reflecting a decrease of 500% from 2007 levels. The value then dropped to Rs 4,020 per sq.ft in 2017, a decline of 33% from the previous revision.

In 2023, the guideline value increased to Rs 6,000 per sq.ft, and then further rose by 10% to the current rate of Rs 6,610 per sq.ft in 2024. This represents a 49% increase from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 832%.

Guideline values in Ekkaduthangal

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

• Kalaimagal Nagar 3rd Main Road: Rs 6,610 per sq.ft (2024)
• Kalaimagal Nagar 3rd Street: Rs 6,610 per sq.ft (2024)
• Kalaimagal Nagar 4th Cross St: Rs 6,610 per sq.ft (2024)
• Kalaimagal Nagar 4th Main Road: Rs 6,610 per sq.ft (2024)
• Kalaimagal Nagar 2nd Street: Rs 6,610 per sq.ft (2024)
• Kalaimagal Nagar 2nd Main Road: Rs 6,610 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaimagal Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 66,10,000. The stamp duty at 7% would be Rs 4,62,700, and the registration fee at 2% would be Rs 1,32,200, bringing the total 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaimagal Nagar 3rd Cross Street?

The Sub Registrar Office that covers Kalaimagal Nagar 3rd 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 details.

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

The guideline value plays a crucial role in property transactions in Ekkaduthangal. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value as it directly affects the overall costs involved in the transaction.

When registering a property, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kalaimagal Nagar 3rd Cross Street?

The current guideline value of Kalaimagal Nagar 3rd 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 significantly from Rs 709 per sq.ft in 2002 to Rs 6,610 per sq.ft in 2024, reflecting an overall increase of 832% over this period.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 5,94,900, calculated based on the guideline value of Rs 66,10,000.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers Kalaimagal Nagar 3rd Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Kalaimagal Nagar 3rd Cross Street?

Kalaimagal Nagar 3rd Cross Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.