Guideline Value for KALAIVANAR STREET (WARD -5)

Kalaivanar Street (Ward -5) guideline value

The current guideline value of Kalaivanar Street (Ward -5) is Rs 1,321 per sq.ft. This street is located in Ninna Karai village, under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Kalaivanar Street (Ward -5) has changed

The guideline value for Kalaivanar Street has seen several revisions over the years. The 2024 revision sets the value at Rs 1,321 per sq.ft, which is an increase from the 2023 figure of Rs 1,200 per sq.ft, reflecting a change of +10%. Prior to that, the 2017 revision had the guideline value at Rs 804 per sq.ft, marking a significant increase of +49% to the 2023 figure. The 2012 revision also recorded a value of Rs 1,200 per sq.ft, which was a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value increased by +10%.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The historical values reflect the changes in the market and the adjustments made by the authorities over time.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, and Kalaivanar Street's 2024 figure of Rs 1,321 per sq.ft is above that median.

• Kalaimagal Nagar, Ninnakarai (Ward -19): Rs 660 per sq.ft (2024)
• Kalaignar Karunanithi Nagar (Ward -2): Rs 660 per sq.ft (2024)
• Kaithe Millath Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Kamarajar Salai (Ward -8): Rs 1,980 per sq.ft (2024)
• Kamarajar Steet (Ward -3): Rs 990 per sq.ft (2024)
• Kaaraikazhani (Ward -2): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaivanar Street (Ward -5)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, and the registration fee at 2% would be Rs 26,420, totaling Rs 1,18,890. It is essential to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalaivanar Street (Ward -5)?

The Sub Registrar Office that covers Kalaivanar Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ninna Karai. It serves as a basis for calculating the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the registration reflects a fair value for the property, based on the prevailing rates in the area.

Frequently asked questions

What is the current guideline value of Kalaivanar Street (Ward -5)?

The current guideline value of Kalaivanar Street (Ward -5) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,321 per sq.ft in 2024, with various revisions in between, including a decrease in 2012.

What is the land classification for Kalaivanar Street?

Kalaivanar Street is classified as Residential Special Type - V, indicating its designation for residential use within the area.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for registration fees.