Guideline Value for KALAKKUTTAI MEDU STREET

Kalakkuttai Medu Street guideline value

The current guideline value of Kalakkuttai Medu Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Sholinganallur - 1 village under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Kalakkuttai Medu Street has changed

In the 2017 revision, the guideline value was Rs 1,005 per sq.ft. It increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft, reflecting a 13% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 69%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, the guideline values range from Rs 1,000 to Rs 8,800 per sq.ft as of 2024, with a median value of Rs 2,200 per sq.ft. Kalakkuttai Medu Street's current guideline value is below this median.

• Kalakkuttai Medu 1st Cross Street: Rs 1,700 per sq.ft (2024)
• Kalakkuttai Main Road Extension: Rs 1,700 per sq.ft (2024)
• Kalakkuttai Main Road: Rs 1,700 per sq.ft (2024)
• Kalakkuttai 1st Street: Rs 1,700 per sq.ft (2024)
• KALAINGNAR KARUNANIDHI SALAI (Akkarai Joint Street): Rs 6,600 per sq.ft (2024)
• Kalaingnar Karunanidhi Salai 2nd Cross Street (Near Canal): Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kalakkuttai Medu Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalakkuttai Medu Street?

The Sub Registrar Office that covers Kalakkuttai Medu Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property transfer.

When buying or selling property, the guideline value ensures that both parties are aware of the minimum value for which the property can be registered. This value helps maintain transparency in property transactions and prevents undervaluation.

Frequently asked questions

What is the current guideline value of Kalakkuttai Medu Street?

The current guideline value of Kalakkuttai Medu Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,700 per sq.ft in 2024, marking an overall increase of 69%.

What is the land classification of Kalakkuttai Medu Street?

Kalakkuttai Medu Street is classified as Residential Class IV Type - I under the Neelankarai SRO.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,53,000.

Where can I find the Sub Registrar Office for Kalakkuttai Medu Street?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.