Guideline Value for KALAIMAGAL STREET

Kalaimagal Street guideline value

The current guideline value of Kalaimagal Street is Rs 1,950 per sq.ft. This street is located in Ottiyampakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kalaimagal Street has changed

The guideline value of Kalaimagal Street has undergone several revisions since 2012. In 2012, the value was set at Rs 1,800 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,206 per sq.ft. The subsequent revision in 2023 saw a significant increase to Rs 1,800 per sq.ft, followed by the latest revision in 2024, which established the current value at Rs 1,950 per sq.ft, reflecting an 8% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 8%. The 2023 to 2024 revision marked an 8% rise, while the 2017 to 2023 period experienced a notable increase of 49%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,950 per sq.ft, which is the same as the current guideline value for Kalaimagal Street.

• Kalathumettu Street: Rs 1,950 per sq.ft (2024)
• Kamatchi Nagar: Rs 1,300 per sq.ft (2024)
• Jones Cassia-VI: Rs 2,200 per sq.ft (2024)
• Jones Cassia-V: Rs 2,200 per sq.ft (2024)
• Jones Cassia-IV: Rs 2,700 per sq.ft (2024)
• Jones Cassia-III Extension-I: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaimagal Street

For a 1,000 sq.ft plot at the current rate of Rs 1,950 per sq.ft, the guideline value amounts to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, totaling Rs 1,75,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaimagal Street?

The Sub Registrar Office that covers Kalaimagal Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Ottiyampakkam. It serves as a benchmark for determining the stamp duty and registration fees payable, ensuring that these costs are based on a standardized valuation rather than individual sale prices.

When buying or selling property, the guideline value helps to establish a clear understanding of the financial obligations involved in the transaction. It is essential for both buyers and sellers to be aware of the current guideline values to make informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Kalaimagal Street?

The current guideline value of Kalaimagal Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,950 per sq.ft in 2024, with various revisions in between, including a decrease to Rs 1,206 per sq.ft in 2017.

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

For a property valued at Rs 19,50,000, the stamp duty would be Rs 1,36,500, and the registration fee would be Rs 39,000, totaling Rs 1,75,500.

Which registration office covers Kalaimagal Street?

Kalaimagal Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification of Kalaimagal Street?

Kalaimagal Street is classified as Residential Class I Type - I, indicating its suitability for residential development.