Guideline Value for KALAIVANAR STREET

Kalaivanar Street guideline value

The current guideline value of Kalaivanar Street is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village, under the jurisdiction of the Manavalanagar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kalaivanar Street has changed

Over the years, the guideline value for Kalaivanar Street has seen several revisions. The earliest recorded revision is from 2007, where the value was Rs 250 per sq.ft. This increased to Rs 500 per sq.ft in 2012, marking a 100% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 335 per sq.ft. The subsequent revisions saw an increase to Rs 500 per sq.ft in 2023 and again in 2024, showing no change between these two years.

In summary, the guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 500 per sq.ft in 2024, resulting in an overall increase of 100% over this period. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that have a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Kalaivanar Street's current guideline value is below this median.

• Kaide Millath Street: Rs 500 per sq.ft (2024)
• Kamaraj Street: Rs 1,300 per sq.ft (2024)
• Kamaraj Street (Kabilar Nagar): Rs 1,300 per sq.ft (2024)
• Jegan Street: Rs 700 per sq.ft (2024)
• K.A.Mathiazhagan Street: Rs 800 per sq.ft (2024)
• Jeevanantham Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaivanar Street

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaivanar Street?

The Sub Registrar Office that covers Kalaivanar Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Vengathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is essential for calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kalaivanar Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 500 per sq.ft in 2024, with a notable increase of 100% overall during this period.

What is the land classification for Kalaivanar Street?

The land classification for Kalaivanar Street is Residential Class IV Type - I, indicating its suitability for residential development.

Where can I find information about other streets in Vengathur?

Information about other streets in Vengathur can be found in the guideline value register, which lists various streets along with their respective guideline values.

What office handles property registrations for Kalaivanar Street?

The Manavalanagar Sub Registrar Office handles property registrations for Kalaivanar Street, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.