Guideline Value for KALAINGAR KARUNANIDHI SALAI

Kalaingar Karunanidhi Salai guideline value

The current guideline value of Kalaingar Karunanidhi Salai is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Special Type - III.

How the guideline value of Kalaingar Karunanidhi Salai has changed

The guideline value for Kalaingar Karunanidhi Salai has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,000 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%. The value further increased to Rs 5,000 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2007 to 2024, there has been a significant increase of 450%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing the 2024 figure for Kalaingar Karunanidhi Salai above the median.

• Kalaignar Karunanidhi 9th Cross Street: Rs 4,400 per sq.ft (2024)
• Kalaignar Karunanidhi 8th Cross Street: Rs 4,400 per sq.ft (2024)
• Kalaignar Karunanidhi 7th Link: Rs 4,400 per sq.ft (2024)
• Kalaignar Karunanidhi 7th Cross Street: Rs 4,400 per sq.ft (2024)
• Kalaignar Karunanidhi 6th Link: Rs 4,400 per sq.ft (2024)
• Kalaignar Karunanidhi 6th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaingar Karunanidhi Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for these fees would be Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kalaingar Karunanidhi Salai?

The Sub Registrar Office that covers Kalaingar Karunanidhi Salai 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 Palavakkam

The guideline value is an essential factor in property transactions in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. It is crucial for both parties to be aware of the guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Kalaingar Karunanidhi Salai?

The current guideline value of Kalaingar Karunanidhi Salai is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, with various revisions in between, including a notable increase of 400% from 2007 to 2012.

What is the median guideline value for streets in Palavakkam?

The median guideline value for the 349 streets in Palavakkam is Rs 3,300 per sq.ft, with Kalaingar Karunanidhi Salai's 2024 figure being above this median.

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

For a property valued at Rs 55,00,000, the stamp duty is Rs 3,85,000 and the registration fee is Rs 1,10,000, totaling Rs 4,95,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kalaingar Karunanidhi Salai located?

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