Guideline Value for KALAIVANAR NAGAR

Kalaivanar Nagar guideline value

The current guideline value of Kalaivanar Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village and falls under the Thiruvottiyur SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Kalaivanar Nagar has changed

The guideline value for Kalaivanar Nagar has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 200 per sq.ft. This increased to Rs 234 per sq.ft in 2003, marking a 17% rise. The value continued to increase significantly, reaching Rs 500 per sq.ft in 2007, which represented a 114% increase from the previous year. However, there was a notable decline in the 2012 revision, where the value was Rs 1,400 per sq.ft, a decrease of 33% from the 2007 figure.

In the subsequent years, the guideline value rose again, reaching Rs 938 per sq.ft in 2017, which was a substantial increase of 49% from 2012. The most recent revisions show an increase to Rs 1,400 per sq.ft in 2023, followed by a further rise to Rs 1,500 per sq.ft in 2024, which is a 7% increase from the previous year. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Kalaivanar Nagar is below this median.

• Kakkan Street: Rs 3,300 per sq.ft (2024)
• Kailash Sector: Rs 3,300 per sq.ft (2024)
• Kalyani Chetty Nagar: Rs 3,300 per sq.ft (2024)
• Kamadevan Nagar: Rs 3,300 per sq.ft (2024)
• Kamala Nagar: Rs 3,300 per sq.ft (2024)
• Jothi Nagars/Streets/Cross Streets: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaivanar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty, charged at 7%, would amount to Rs 1,05,000, while the registration fee at 2% would be Rs 30,000. Therefore, the total cost for stamp duty and registration would be Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kalaivanar Nagar?

The Sub Registrar Office that covers Kalaivanar Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Thiruvottiyur. It serves as a benchmark for determining the minimum value of properties in the area, ensuring that transactions are registered at a fair value. This value is used by the registration authorities to calculate the stamp duty and registration fees applicable to the property transaction.

When a property is sold, the guideline value helps to ascertain the appropriate tax obligations for both the buyer and the seller. It is essential to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Kalaivanar Nagar?

The current guideline value for Kalaivanar Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 200 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 650% over the years.

What is the stamp duty rate for properties in Kalaivanar Nagar?

The stamp duty rate for properties in Kalaivanar Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Kalaivanar Nagar?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Kalaivanar Nagar?

Kalaivanar Nagar is classified as Residential Class II Type - II, which is important for understanding the zoning regulations and permissible land use in the area.