Guideline Value for KALAIMAGAL NAGAR, NINNAKARAI (WARD -19)

Kalaimagal Nagar, Ninnakarai (Ward -19) guideline value

The current guideline value of Kalaimagal Nagar, Ninnakarai (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III and falls under the Chengleput Joint II SRO.

How the guideline value of Kalaimagal Nagar, Ninnakarai (Ward -19) has changed

The guideline value for Kalaimagal Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision, marking a decrease of 33%. In the subsequent 2023 revision, the value increased to Rs 600 per sq.ft, and the latest revision in 2024 has raised it further to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

In total, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Ninna Karai

Ninna Karai has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing the 2024 figure for Kalaimagal Nagar below this median.

• Kalaignar Karunanithi Nagar (Ward -2): Rs 660 per sq.ft (2024)
• Kalaivanar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Kaithe Millath Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Kaaraikazhani (Ward -2): Rs 660 per sq.ft (2024)
• Kaanthaliamman Koil Street (Ward -15): Rs 660 per sq.ft (2024)
• J.V.Avenue (Ward -19): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaimagal Nagar, Ninnakarai (Ward -19)

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kalaimagal Nagar, Ninnakarai (Ward -19)?

The Chengleput Joint II Sub Registrar Office covers Kalaimagal Nagar, Ninnakarai (Ward -19). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Ninna Karai, as it determines the amount of stamp duty and registration fees applicable. Buyers and sellers must ensure that the transaction value meets or exceeds the guideline value to comply with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the necessary fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kalaimagal Nagar?

The current guideline value of Kalaimagal Nagar, Ninnakarai (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Kalaimagal Nagar?

Kalaimagal Nagar is classified as Residential Class I Type - III, indicating its use for residential purposes.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

What is the stamp duty for property in Kalaimagal Nagar?

The stamp duty for property in Kalaimagal Nagar is 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 6,60,000 would incur a stamp duty of Rs 46,200.