Guideline Value for KALAINGAR CROSS STREET

Kalaingar Cross Street guideline value

The current guideline value of Kalaingar Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Sholinganallur - 1 village under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of Kalaingar Cross Street has changed

The guideline value for Kalaingar Cross Street has seen significant changes over the years. In the 2017 revision, the value was Rs 2,010 per sq.ft. This increased to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, and Kalaingar Cross Street's 2024 value is above this median.

• Kalaingnar Karunanidhi Salai 2nd Cross Street (Near Canal): Rs 6,600 per sq.ft (2024)
• KALAINGNAR KARUNANIDHI SALAI (Akkarai Joint Street): Rs 6,600 per sq.ft (2024)
• Kalakkuttai 1st Street: Rs 1,700 per sq.ft (2024)
• Kalakkuttai Main Road: Rs 1,700 per sq.ft (2024)
• Kalakkuttai Main Road Extension: Rs 1,700 per sq.ft (2024)
• Kalakkuttai Medu 1st Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaingar Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, resulting in a total of Rs 2,97,000. 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 more details.

Which Sub Registrar Office covers Kalaingar Cross Street?

The Sub Registrar Office that covers Kalaingar Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property in the area.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at an appropriate value. This helps maintain transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kalaingar Cross Street?

The current guideline value of Kalaingar Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 64% over the seven years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers this street?

The Neelankarai Sub Registrar Office covers Kalaingar Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value for other streets in Sholinganallur - 1?

The median guideline value for other streets in Sholinganallur - 1 is Rs 2,200 per sq.ft, with Kalaingar Cross Street's value being above this median.