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 Vallancheri village, under the Chengleput Joint II SRO, and is classified as Residential Class II Type - I.

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

The guideline value for Kalaimagal Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 600 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft. Following this, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this village is Rs 825 per sq.ft, placing the 2024 figure for Kalaimagal Street 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, leading to a total of Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

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

Kalaimagal Street (Ward-21) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Vallancheri. It serves as a reference point for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a buyer or seller engages in a property transaction, the guideline value helps ensure transparency and standardization in the registration process. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration.

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 seen several changes, with the most recent increase of 10% from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024. There was a significant increase of 49% from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023.

What is the land classification for Kalaimagal Street?

Kalaimagal Street is classified as Residential Class II Type - I, indicating its designation for residential purposes within the area.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, on a 1,000 sq.ft plot, the total fees would amount to Rs 59,400.

Which office handles registrations for Kalaimagal Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Kalaimagal Street (Ward-21), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.