Guideline Value for KALAIVANAR STREET

Kalaivanar Street guideline value

The current guideline value of Kalaivanar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village under the Chennai South Joint I SRO, and it falls under Residential Class IV Type - I land classification.

How the guideline value of Kalaivanar Street has changed

The guideline value for Kalaivanar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,650 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for Kalaivanar Street in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is the same as the current value for Kalaivanar Street.

• Kalasekar Nagar: Rs 1,110 per sq.ft (2024)
• Kalidasar Street: Rs 1,650 per sq.ft (2024)
• Kakkanji Street Extn: Rs 1,320 per sq.ft (2024)
• Kakkanji Street: Rs 1,320 per sq.ft (2024)
• Kakkanji Cross Street: Rs 1,320 per sq.ft (2024)
• Kamakoti Nagar 1st Main Road Extension: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaivanar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that 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 accurate calculations based on your property details.

Which Sub Registrar Office covers Kalaivanar Street?

The Sub Registrar Office that covers Kalaivanar Street 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 information.

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

The guideline value plays a crucial role during property registration in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with legal requirements.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and reflects the property's value as per the latest guidelines.

Frequently asked questions

What is the current guideline value of Kalaivanar Street?

The current guideline value of Kalaivanar Street is Rs 1,650 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 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the median guideline value for streets in Pallikaranai?

The median guideline value for streets in Pallikaranai is Rs 1,650 per sq.ft, which is the same as the current value for Kalaivanar Street.

What are the stamp duty rates for properties in Kalaivanar Street?

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

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

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