Guideline Value for KALAIMAGAL STREET (WARD-21)

Kalaimagal Street (Ward-21) guideline value

The current guideline value of Kalaimagal Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Potheri village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kalaimagal Street (Ward-21) has changed

The guideline value for Kalaimagal Street has seen several revisions over the years. The earliest recorded revision is from 2012, which set the value at Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017. However, in the 2023 revision, the value increased to Rs 600 per sq.ft, and the latest revision in 2024 has further increased it to Rs 660 per sq.ft.

From 2012 to 2017, the guideline value decreased by 33%. Then, from 2017 to 2023, it rose by 49%. The change from 2023 to 2024 is an increase of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing Kalaimagal Street's current value below this median.

• Kalaivani Nagar Main Road (Ward -1): Rs 770 per sq.ft (2024)
• Kalaignar Karunanithi Street (Ward-20): Rs 1,100 per sq.ft (2024)
• Kakkan Street Mgr Nagar (Ward-20): Rs 880 per sq.ft (2024)
• Kaathavarayan Koil Street (Ward -1): Rs 770 per sq.ft (2024)
• Kamarajar Street (Ward-21): Rs 660 per sq.ft (2024)
• Kamatchi Nagar (Val): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaimagal Street (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total 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 the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalaimagal Street (Ward-21)?

The Sub Registrar Office that covers Kalaimagal Street (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Potheri. It serves as a reference point for determining the minimum value at which property transactions can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values for different areas.

Frequently asked questions

What is the current guideline value of Kalaimagal Street (Ward-21)?

The current guideline value of Kalaimagal Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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 median guideline value for streets in Potheri?

The median guideline value for the 129 streets in Potheri is Rs 770 per sq.ft, which is higher than the current value of Kalaimagal Street.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 46,200, and the registration fee is Rs 13,200, totaling Rs 59,400.

Where is the Sub Registrar Office for Kalaimagal Street located?

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