Guideline Value for KALAIMAGAL NAGAR

Kalaimagal Nagar guideline value

The current guideline value of Kalaimagal Nagar, located in Ponthavakkam village under the Oothukkottai SRO, is Rs 150 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kalaimagal Nagar has changed

The guideline value for Kalaimagal Nagar has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 150 per sq.ft. In 2017, the value decreased to Rs 100 per sq.ft, marking a 33% decline. However, from 2017 to 2023, the value increased by 50% to reach Rs 150 per sq.ft again. The 2023 revision maintained the same value of Rs 150 per sq.ft, and the latest revision in 2024 also remains at Rs 150 per sq.ft, showing no change from the previous year.

The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ponthavakkam

In Ponthavakkam, there are six streets under the Oothukkottai SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 600 per sq.ft. The median guideline value in this village is Rs 150 per sq.ft, which is equal to the current value of Kalaimagal Nagar.

• Jaisakthi Avenue: Rs 100 per sq.ft (2024)
• Maharishikudilam: Rs 150 per sq.ft (2024)
• Sri Ambika Nagar: Rs 150 per sq.ft (2024)
• Sri Balaji Nagar: Rs 150 per sq.ft (2024)
• Sri Vari Avune: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaimagal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty, calculated at 7%, would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. It is important to note that the duty is charged on whichever is higher between the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalaimagal Nagar?

The Sub Registrar Office that covers Kalaimagal Nagar is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Ponthavakkam, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during property transactions. The guideline value reflects the government's assessment of property values in the area, which can vary based on land classification and location.

Frequently asked questions

What is the current guideline value of Kalaimagal Nagar?

The current guideline value of Kalaimagal Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions being Rs 150 per sq.ft in 2023 and 2024, compared to Rs 100 per sq.ft in 2017 and Rs 150 per sq.ft in 2012.

What are the stamp duty and registration fees for property in Kalaimagal Nagar?

For a property valued at Rs 1,50,000, the stamp duty would be Rs 10,500 and the registration fee would be Rs 3,000, totaling Rs 13,500. Duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Kalaimagal Nagar?

The Oothukkottai Sub Registrar Office handles registrations for Kalaimagal Nagar, located near the government hospital in Uthukottai, 602026, Chennai registration zone.

How is the guideline value determined for properties in Ponthavakkam?

The guideline value is determined by the government and reflects the assessed value of properties in the area based on land classification and location. It is used to calculate stamp duty and registration fees during property transactions.