Guideline Value for KALASATHAMMAN KOIL STREET EXTENSION

Kalasathamman Koil Street Extension guideline value

The current guideline value of Kalasathamman Koil Street Extension is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village, which falls under the Madhavaram SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Kalasathamman Koil Street Extension has changed

Over the years, the guideline value for Kalasathamman Koil Street Extension has seen several revisions. The 2017 revision set the value at Rs 2,010 per sq.ft. This increased to Rs 3,000 per sq.ft in the 2023 revision, representing a significant rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Kalasathamman Koil Street Extension above this median.

• Kalasathamman Koil Street: Rs 2,200 per sq.ft (2024)
• Jai Balaji Nagar Extension: Rs 1,900 per sq.ft (2024)
• Jai Balaji Nagar 5th Street: Rs 1,900 per sq.ft (2024)
• Jai Balaji Nagar 4th Street: Rs 1,900 per sq.ft (2024)
• Jai Balaji Nagar 3rd Street: Rs 1,900 per sq.ft (2024)
• Jai Balaji Nagar 2nd Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kalasathamman Koil Street Extension

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% is Rs 2,31,000, and the registration fee at 2% is Rs 66,000, bringing the total to Rs 2,97,000. 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 Kalasathamman Koil Street Extension?

The Sub Registrar Office that covers Kalasathamman Koil Street Extension is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Selavoyal. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct amount of revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kalasathamman Koil Street Extension?

The current guideline value of Kalasathamman Koil Street Extension is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 64% over the seven-year period.

What is the land classification for Kalasathamman Koil Street Extension?

The land classification for Kalasathamman Koil Street Extension is Residential Special Type - I.

What is the registration office for this street?

The registration office that covers Kalasathamman Koil Street Extension is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.