Guideline Value for KALAIMAGAL NAGAR WEST EXTENSION

Kalaimagal Nagar West Extension guideline value

The current guideline value of Kalaimagal Nagar West Extension is Rs 6,610 per sq.ft, effective from 1 July 2024. This area is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this street is Commercial Class I Type - II.

How the guideline value of Kalaimagal Nagar West Extension has changed

Over the years, the guideline value of Kalaimagal Nagar West Extension has seen significant changes. The earliest recorded figure is from 2002, where the rate was Rs 709 per sq.ft. This increased to Rs 818 per sq.ft in 2003, marking a 15% rise. By 2007, the rate surged to Rs 1,000 per sq.ft, reflecting a 22% increase. The value then saw a substantial jump to Rs 6,000 per sq.ft in 2012, which was a remarkable 500% increase. However, between 2012 and 2017, the value dropped to Rs 4,020 per sq.ft, indicating a decrease of 33%. The rate rose again to Rs 6,000 per sq.ft in 2023, and as of 2024, it stands at Rs 6,610 per sq.ft, which is a 10% increase from the previous year.

There are no recorded figures for the years not mentioned in the register for this street. 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 that have a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. The guideline value of Kalaimagal Nagar West Extension is above this median.

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

Stamp duty and registration fee for property in Kalaimagal Nagar West Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 6,610 per sq.ft, the total guideline value is Rs 66,10,000. The stamp duty at 7% would amount to Rs 4,62,700, and the registration fee at 2% would be Rs 1,32,200, making the total cost for these fees Rs 5,94,900. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalaimagal Nagar West Extension?

The Sub Registrar Office that covers Kalaimagal Nagar West Extension 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 in the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kalaimagal Nagar West Extension?

The current guideline value of Kalaimagal Nagar West Extension 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, increasing from Rs 709 per sq.ft in 2002 to Rs 6,610 per sq.ft in 2024, representing an overall increase of 832%.

What is the land classification for Kalaimagal Nagar West Extension?

The land classification for Kalaimagal Nagar West Extension is Commercial Class I Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Kalaimagal Nagar West Extension is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a property valued at 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.