Guideline Value for KALAIVANAR SALAI

Kalaivanar Salai guideline value

The current guideline value of Kalaivanar Salai is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kalaivanar Salai has changed

The guideline value for Kalaivanar Salai has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase from Rs 2,000 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the value was Rs 1,340 per sq.ft, reflecting a significant increase of 49% to 2023. The 2012 revision also recorded a value of Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current guideline value for Kalaivanar Salai.

• Kalaivanar Street: Rs 2,200 per sq.ft (2024)
• Kalaignar Street: Rs 1,870 per sq.ft (2024)
• Kakkanji Street: Rs 2,200 per sq.ft (2024)
• Kamarajar Street: Rs 2,200 per sq.ft (2024)
• Jeyanthi Natarajan Street: Rs 2,200 per sq.ft (2024)
• Kambar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaivanar Salai

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 22,00,000. The stamp duty at 7% amounts to Rs 1,54,000, and the registration fee at 2% is Rs 44,000, bringing the total to Rs 1,98,000. 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 Kalaivanar Salai?

The Sub Registrar Office that covers Kalaivanar Salai is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Jelandianpettai. It is used to determine the stamp duty and registration fees that must be paid, ensuring that both parties are aware of the financial obligations involved in the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kalaivanar Salai?

The current guideline value of Kalaivanar Salai is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has increased from Rs 2,000 to Rs 2,200 per sq.ft in 2024, with various revisions in between, including a significant rise from Rs 1,340 in 2017 to Rs 2,000 in 2023.

What is the land classification for Kalaivanar Salai?

Kalaivanar Salai is classified as Residential Class II Type - I. This classification indicates the type of development and usage permitted in the area.

Where can I find the Sub Registrar Office for Kalaivanar Salai?

The Sub Registrar Office for Kalaivanar Salai is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Jelandianpettai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the correct amount is charged during the registration process.