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

Kalaimagal Nagar, Ninnakarai (Ward -19) guideline value

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

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

Over the years, the guideline value for Kalaimagal Nagar has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. The following revision in 2023 increased the value to Rs 600 per sq.ft, and the current 2024 revision has further increased it to Rs 660 per sq.ft, reflecting a 10% rise from the previous year. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased significantly by 49%. Overall, from 2012 to 2024, there has been a modest increase of 10%. The current value of Rs 660 per sq.ft is below the median value of Rs 1,100 per sq.ft for the 425 streets in Sattamangalam under the Chengleput Joint II SRO.

Guideline values in Sattamangalam

In Sattamangalam, the guideline values for various streets range from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. Kalaimagal Nagar, Ninnakarai (Ward -19) is currently valued at Rs 660 per sq.ft, which is below this median.

• Kalaignar Karunanithi Nagar (Ward -2): Rs 440 per sq.ft (2024)
• Kalaivanar Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Kaithe Millath Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kaaraikazhani (Ward -2): Rs 440 per sq.ft (2024)
• Kaanthaliamman Koil Street (Ward -15): Rs 550 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 guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total charges Rs 59,400. It is important to note that the 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 details.

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 additional information.

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

The guideline value is a crucial factor when buying or selling property in Sattamangalam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Kalaimagal Nagar, Ninnakarai (Ward -19)?

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?

The guideline value has seen several revisions, with the most recent being Rs 660 per sq.ft in 2024. It was Rs 600 per sq.ft in 2023, Rs 402 per sq.ft in 2017, and Rs 600 per sq.ft in 2012.

What is the land classification for Kalaimagal Nagar?

Kalaimagal Nagar is classified under Residential Class I Type - III. This classification is important for understanding the type of development allowed in the area.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles property registrations for the area.

How is stamp duty calculated in Sattamangalam?

Stamp duty in Sattamangalam is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.