Guideline Value for KALAIVANI NAGAR MAIN ROAD (WARD -1)

Kalaivani Nagar Main Road (Ward -1) guideline value

The current guideline value of Kalaivani Nagar Main Road (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Potheri village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Kalaivani Nagar Main Road (Ward -1) has changed

Over the years, the guideline value of Kalaivani Nagar Main Road has seen several revisions. The earliest recorded figure is from 2012, where the guideline value was Rs 700 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 469 per sq.ft. Following this, the value increased to Rs 700 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 770 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, which is equal to the guideline value of Kalaivani Nagar Main Road (Ward -1).

• Kalaimagal Street (Ward-21): Rs 660 per sq.ft (2024)
• Kalaignar Karunanithi Street (Ward-20): Rs 1,100 per sq.ft (2024)
• Kakkan Street Mgr Nagar (Ward-20): Rs 880 per sq.ft (2024)
• Kamarajar Street (Ward-21): Rs 660 per sq.ft (2024)
• Kamatchi Nagar (Val): Rs 880 per sq.ft (2024)
• Kaathavarayan Koil Street (Ward -1): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaivani Nagar Main Road (Ward -1)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty is charged at 7%, which totals Rs 53,900, and the registration fee is charged at 2%, amounting to Rs 15,400. Therefore, the total cost for stamp duty and registration fee together is Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaivani Nagar Main Road (Ward -1)?

The Sub Registrar Office that covers Kalaivani Nagar Main Road (Ward -1) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Potheri. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is essential for calculating the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is not lower than the guideline value to avoid any legal complications. The registration office will use the guideline value to assess the fees applicable, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Kalaivani Nagar Main Road (Ward -1)?

The current guideline value of Kalaivani Nagar Main Road (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What are the other streets in Potheri with their guideline values?

Other streets in Potheri include Kalaimagal Street at Rs 660 per sq.ft, Kalaignar Karunanithi Street at Rs 1,100 per sq.ft, Kakkan Street Mgr Nagar at Rs 880 per sq.ft, Kamarajar Street at Rs 660 per sq.ft, and Kamatchi Nagar at Rs 880 per sq.ft.

What is the registration fee for property transactions in Potheri?

The registration fee is calculated based on the guideline value of the property. For example, for a property valued at Rs 7,70,000, the registration fee would be Rs 15,400 at a rate of 2%.

Where can I find the Chengleput Joint II SRO?

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