Guideline Value for KALAIMAGAL NAGAR 3RD STREET

Kalaimagal Nagar 3rd Street guideline value

The current guideline value for Kalaimagal Nagar 3rd 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. The land classification for this area is Commercial Class I Type - II.

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

The guideline value for Kalaimagal Nagar 3rd Street has seen several revisions over the years. The earliest recorded revision in 2002 set the value at Rs 709 per sq.ft. This increased to Rs 818 per sq.ft in 2003, marking a 15% change. The value then rose to Rs 1,000 per sq.ft in 2007, reflecting a significant increase of 22%. Following that, the value soared to Rs 6,000 per sq.ft in 2012, which was a remarkable 500% increase from the previous revision. However, between 2012 and 2017, the value decreased to Rs 4,020 per sq.ft, a decline of 33%.

From 2017 to 2023, the guideline value increased to Rs 6,000 per sq.ft, representing a 49% rise. The most recent revision in 2024 has set the value at Rs 6,610 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 832%. There are no figures for any other revisions 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. The median value for these streets is Rs 4,620 per sq.ft, positioning Kalaimagal Nagar 3rd Street above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 6,610 per sq.ft, the total guideline value amounts to Rs 66,10,000. The stamp duty, charged at 7%, would be Rs 4,62,700, while the registration fee at 2% would be Rs 1,32,200. Together, these fees would total Rs 5,94,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaimagal Nagar 3rd Street?

The Sub Registrar Office that covers Kalaimagal Nagar 3rd 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 plays a crucial role when buying or selling property in Ekkaduthangal. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is a reference point for these calculations and can affect the overall cost of the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount will be used to calculate the applicable duties and fees. This ensures that all transactions are fairly assessed according to the established values in the region.

Frequently asked questions

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

The current guideline value of Kalaimagal Nagar 3rd Street is Rs 6,610 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 709 per sq.ft to Rs 6,610 per sq.ft in 2024, marking an overall increase of 832%.

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.

Which Sub Registrar Office handles property registrations in Ekkaduthangal?

The Chennai South Joint I Sub Registrar Office is responsible for property registrations in Ekkaduthangal, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the guideline value determined?

The guideline value is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in land classification and market conditions.