Guideline Value for KALASEKAR NAGAR

Kalasekar Nagar guideline value

The current guideline value of Kalasekar Nagar is Rs 1,110 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - III.

How the guideline value of Kalasekar Nagar has changed

Over the years, the guideline value for Kalasekar Nagar has seen significant changes. Starting from Rs 81 per sq.ft in 2002, it increased to Rs 100 per sq.ft in 2003, marking a 23% rise. By 2007, the value surged to Rs 400 per sq.ft, representing a remarkable 300% increase. The value remained at Rs 1,000 per sq.ft in both 2012 and 2023, indicating no change during those years. The most recent revision in 2024 set the value at Rs 1,110 per sq.ft, an increase of 11% from the previous year.

In summary, from 2002 to 2024, the guideline value has increased by a total of 1270%. Notably, there is no figure available for the year 2017 in the register for this street.

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, placing Kalasekar Nagar's 2024 figure below that median.

• Kalaivanar Street: Rs 1,650 per sq.ft (2024)
• Kalidasar Street: Rs 1,650 per sq.ft (2024)
• Kamakoti Nagar 1st Main Road Extension: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Kamakoti Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kalasekar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value amounts to Rs 11,10,000. The stamp duty at 7% would be Rs 77,700, and the registration fee at 2% would be Rs 22,200, bringing the total cost for these fees to Rs 99,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalasekar Nagar?

The Sub Registrar Office covering Kalasekar Nagar 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 the registration of property transactions in Pallikaranai. It serves as the basis for calculating the stamp duty and registration fees that must be paid to the government during the registration process.

When a property is bought or sold, the guideline value is compared to the sale price. The higher of the two values is taken into account for calculating the applicable fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kalasekar Nagar?

The current guideline value of Kalasekar Nagar is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 81 per sq.ft to Rs 1,110 per sq.ft in 2024, representing a total increase of 1270%.

What is the registration office for Kalasekar Nagar?

The registration office for Kalasekar Nagar 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.

How is stamp duty calculated for properties in Kalasekar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 11,10,000 would incur a stamp duty of Rs 77,700 at 7%.

Are there other streets with higher guideline values in Pallikaranai?

Yes, there are other streets in Pallikaranai with higher guideline values, such as Kalaivanar Street and Kalidasar Street, both valued at Rs 1,650 per sq.ft in 2024.