Guideline Value for KALAINGER NAGAR

Kalainger Nagar guideline value

The current guideline value of Kalainger Nagar, located in Thirusulam village under the Pallavaram SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kalainger Nagar has changed

The guideline value for Kalainger Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest 2024 revision has further increased it to Rs 2,750 per sq.ft.

In terms of percentage changes, the value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 2,750 per sq.ft. The median value for these streets is Rs 1,940 per sq.ft, placing Kalainger Nagar's value above this median.

• Kalaingar Nagar 1 To 4 Streets: Rs 2,750 per sq.ft (2024)
• Kannabiran Koil 1 To 2 Streets: Rs 2,200 per sq.ft (2024)
• Kannabiran Koil Street: Rs 2,200 per sq.ft (2024)
• Kannabiran Koil Street Ext: Rs 2,200 per sq.ft (2024)
• Indira Nagar M.G.R Street: Rs 1,940 per sq.ft (2024)
• Kennady Valley: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kalainger Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalainger Nagar?

The Sub Registrar Office that covers Kalainger Nagar 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Thirusulam. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory when transferring property ownership.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately in the official registry. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kalainger Nagar?

The current guideline value of Kalainger Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced several changes, with the most recent being an increase from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024. Overall, from 2012 to 2024, the value has increased by 10%.

What are the other streets in Thirusulam with their guideline values?

Other streets in Thirusulam include Kalaingar Nagar 1 To 4 Streets at Rs 2,750 per sq.ft, Kannabiran Koil 1 To 2 Streets at Rs 2,200 per sq.ft, and Indira Nagar M.G.R Street at Rs 1,940 per sq.ft, among others.

What fees are associated with buying property in Kalainger Nagar?

When buying property in Kalainger Nagar, you will incur stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kalainger Nagar?

The Sub Registrar Office for Kalainger Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.