Guideline Value for KALAIMAGAL STREET

Kalaimagal Street guideline value

The current guideline value of Kalaimagal Street in Puliyur village is Rs 5,000 per sq.ft, effective from 1 July 2024. This street falls under the Kodambakkam SRO and is classified as Residential Class III Type - I.

How the guideline value of Kalaimagal Street has changed

The guideline value for Kalaimagal Street has seen several revisions over the years. In 2002, the value was Rs 750 per sq.ft, which increased to Rs 824 per sq.ft in 2003. Following that, the value rose significantly to Rs 1,200 per sq.ft in 2007, and then to Rs 4,600 per sq.ft in 2012. However, it decreased to Rs 3,082 per sq.ft in 2017. The guideline value then increased to Rs 4,600 per sq.ft in 2023, and currently stands at Rs 5,000 per sq.ft as of the 2024 revision.

The changes between these revisions are notable. From 2002 to 2003, there was a 10% increase, followed by a substantial 46% rise from 2003 to 2007. The value then surged by 283% from 2007 to 2012, but saw a decrease of 33% from 2012 to 2017. The value increased by 49% from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 567%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, placing the 2024 guideline value of Kalaimagal Street below this median.

• Kalyanapuram: Rs 5,800 per sq.ft (2024)
• Jubilee Road: Rs 8,800 per sq.ft (2024)
• Kamala Nehru Main Road: Rs 5,000 per sq.ft (2024)
• Kamala Nehru Nagar 1st Street: Rs 5,000 per sq.ft (2024)
• Kamala Nehru Nagar 2nd Street: Rs 5,800 per sq.ft (2024)
• Jothi Ramalingam Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaimagal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total fees together to Rs 4,50,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kalaimagal Street?

The Sub Registrar Office that covers Kalaimagal Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puliyur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure accurate financial planning.

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

Frequently asked questions

What is the current guideline value of Kalaimagal Street?

The current guideline value of Kalaimagal Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 567% over this period.

What is the land classification for Kalaimagal Street?

Kalaimagal Street is classified as Residential Class III Type - I under the Kodambakkam SRO.

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

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Where is the Sub Registrar Office for Kalaimagal Street located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.