Guideline Value for KALAINGAR SALAI 1 TO 4 STREETS

Kalaingar Salai 1 To 4 Streets guideline value

The current guideline value for Kalaingar Salai 1 To 4 Streets in Kovilambakkam village is Rs 2,160 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Kalaingar Salai 1 To 4 Streets has changed

The guideline value for Kalaingar Salai 1 To 4 Streets has seen several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. The value increased significantly to Rs 2,000 per sq.ft in 2023, followed by a further rise to Rs 2,160 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while the overall change from 2012 to 2024 is an increase of 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilambakkam

Kovilambakkam has a total of 61 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,610 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Kalaingar Salai 1 To 4 Streets is below this median.

• Kalaignar Salai: Rs 2,200 per sq.ft (2024)
• Kamarajar Salai 2 And 3rd Street: Rs 2,160 per sq.ft (2024)
• Kamaraj Street: Rs 2,200 per sq.ft (2024)
• Karpagam Nagar: Rs 2,750 per sq.ft (2024)
• Indrajit Avenue: Rs 2,750 per sq.ft (2024)
• Kbg Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaingar Salai 1 To 4 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total to Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Kalaingar Salai 1 To 4 Streets?

The Sub Registrar Office that covers Kalaingar Salai 1 To 4 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Kovilambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for completing the transaction. This ensures that both the buyer and seller are aware of the financial obligations involved in the property transfer process.

Frequently asked questions

What is the current guideline value for Kalaingar Salai 1 To 4 Streets?

The current guideline value for Kalaingar Salai 1 To 4 Streets is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification for Kalaingar Salai 1 To 4 Streets?

The land classification for Kalaingar Salai 1 To 4 Streets is Residential Class II Type - I.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in this area is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Kalaingar Salai 1 To 4 Streets is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.