Guideline Value for KALAINGAR STREET

Kalaingar Street guideline value

The current guideline value of Kalaingar Street in Chitthalapakkam village, under the Selaiyur SRO, is Rs 1,950 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kalaingar Street has changed

The guideline value for Kalaingar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, a rise of 79%. The latest revision in 2024 has further increased the guideline value to Rs 1,950 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 regarding the guideline value for Kalaingar Street. Overall, from 2012 to 2024, the guideline value has increased by 30%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft, with a median value of Rs 2,900 per sq.ft. The guideline value for Kalaingar Street is below this median.

• Kakanji Street: Rs 1,950 per sq.ft (2024)
• Kamaraj Avenue: Rs 2,700 per sq.ft (2024)
• Kamaraj Nagar: Rs 2,400 per sq.ft (2024)
• Kamaraj Street: Rs 1,950 per sq.ft (2024)
• Jothi Mangala Nagar Extension: Rs 2,100 per sq.ft (2024)
• Jothi Mangala Nagar: Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaingar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value would be Rs 19,50,000. The stamp duty at 7% would amount to Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total fees to 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. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalaingar Street?

The Sub Registrar Office covering Kalaingar 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, under the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Chitthalapakkam, as it determines the minimum price at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements and to understand the financial implications involved in the transaction.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kalaingar Street?

The current guideline value of Kalaingar 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 1,500 per sq.ft in 2012 to Rs 1,950 per sq.ft in 2024, reflecting an overall increase of 30% over this period.

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

For a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 1,75,500, which includes stamp duty and registration fees calculated on the guideline value.

Which Sub Registrar Office covers Kalaingar Street?

The Selaiyur Sub Registrar Office covers Kalaingar Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the median guideline value in Chitthalapakkam?

The median guideline value in Chitthalapakkam is Rs 2,900 per sq.ft, which is higher than the current guideline value of Kalaingar Street.