Guideline Value for KALASETHRA COLONY

Kalasethra Colony guideline value

The current guideline value of Kalasethra Colony is Rs 12,660 per sq.ft, effective from 1 July 2024. This area is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of Kalasethra Colony has changed

The guideline value for Kalasethra Colony has seen several revisions over the years. In 2002, the value was Rs 2,320 per sq.ft, which increased to Rs 2,566 per sq.ft in 2003, marking an increase of 11%. The value further rose to Rs 3,500 per sq.ft in 2007, representing a significant increase of 36%. Following this, the value jumped to Rs 11,500 per sq.ft in 2012, indicating a remarkable rise of 229%. However, it decreased to Rs 7,705 per sq.ft in 2017, showing a decline of 33%. The value then increased to Rs 11,500 per sq.ft in 2023, and finally, the current value is Rs 12,660 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 446%. The register has no figures for the years between these revisions for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Kalasethra Colony's 2024 figure above that median.

• Kalashetra Road: Rs 12,660 per sq.ft (2024)
• Kalakshetra Avenue: Rs 11,000 per sq.ft (2024)
• Kalaignar Karunanidhi Street: Rs 7,150 per sq.ft (2024)
• Justic Ramanujam Street: Rs 9,900 per sq.ft (2024)
• Justic Avenue: Rs 11,000 per sq.ft (2024)
• Kamaraj Avenue: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kalasethra Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 12,660 per sq.ft, the total guideline value would be Rs 1,26,60,000. The stamp duty at 7% would amount to Rs 8,86,200, and the registration fee at 2% would be Rs 2,53,200, totaling Rs 11,39,400. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalasethra Colony?

The Sub Registrar Office that covers Kalasethra Colony 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 Thiruvanmiyur

The guideline value plays a crucial role in the registration of property transactions in Thiruvanmiyur. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these charges are calculated based on the official valuation of the property.

It is essential for buyers and sellers to be aware of the guideline value, as it can impact the overall cost of the transaction. The guideline value is regularly updated, reflecting changes in the real estate landscape, and serves as a benchmark for property transactions in the area.

Frequently asked questions

What is the current guideline value of Kalasethra Colony?

The current guideline value of Kalasethra Colony is Rs 12,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,320 per sq.ft in 2002 to Rs 12,660 per sq.ft in 2024, reflecting an overall increase of 446% over the years.

What is the median guideline value for streets in Thiruvanmiyur?

The median guideline value for streets in Thiruvanmiyur is Rs 9,900 per sq.ft, with Kalasethra Colony's value being above this median at Rs 12,660 per sq.ft.

What are the stamp duty and registration fees for property in Kalasethra Colony?

For a property valued at Rs 1,26,60,000, the stamp duty is Rs 8,86,200, and the registration fee is Rs 2,53,200, totaling Rs 11,39,400.

Which office handles the registration for Kalasethra Colony?

The registration for Kalasethra Colony is handled by 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.