Guideline Value for KALAIMAGAL STREET

Kalaimagal Street guideline value

The current guideline value of Kalaimagal Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Kalaimagal Street has changed

Over the years, the guideline value of Kalaimagal Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 raised the value to Rs 1,650 per sq.ft, an increase of 10% from the previous year.

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

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value of these streets is Rs 1,650 per sq.ft, which is the same as the 2024 guideline value for Kalaimagal Street.

• Kalaivanar Street: Rs 1,650 per sq.ft (2024)
• Kalaivani Street: Rs 1,650 per sq.ft (2024)
• Kalidasar Street: Rs 1,650 per sq.ft (2024)
• Kalyanasundaram 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Kalyanasundaram 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Kalyanasundaram 3rd Cross Street: Rs 1,650 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, charged at 7%, would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost for stamp duty and registration fee would be Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value is a critical factor when registering property transactions in Chitlapakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both buyers and sellers understand the official worth of the property. This value is essential for legal documentation and ensures transparency in property dealings.

Frequently asked questions

What is the current guideline value of Kalaimagal Street?

The current guideline value of Kalaimagal Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Kalaimagal Street?

Kalaimagal Street is classified under Residential Class I Type - III according to the local land classification standards.

Where can I find the Sub Registrar Office for Kalaimagal Street?

The Sub Registrar Office for Kalaimagal Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is stamp duty calculated for properties on Kalaimagal Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500.