Guideline Value for KALASHETRA ROAD

Kalashetra Road guideline value

The current guideline value of Kalashetra Road in Thiruvanmiyur village is Rs 12,660 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Commercial Class I Type - I.

How the guideline value of Kalashetra Road has changed

The guideline value for Kalashetra Road has seen significant changes over the years. In 2002, the guideline value was Rs 1,947 per sq.ft. This increased to Rs 2,154 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 3,000 per sq.ft in 2007, which represented a 39% increase. By 2012, the value was Rs 11,500 per sq.ft, showing a remarkable increase of 283% from the previous revision. However, it dropped to Rs 7,705 per sq.ft in 2017, reflecting a decrease of 33%.

From 2017 to 2023, the guideline value increased significantly to Rs 11,500 per sq.ft, a rise of 49%. The most recent revision in 2024 set the value at Rs 12,660 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 550%.

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, with a median value of Rs 9,900 per sq.ft. Kalashetra Road's 2024 figure is above this median.

• Kalasethra Colony: 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 Kalashetra Road

For a 1,000 sq.ft plot at the current guideline value of Rs 12,660 per sq.ft, the total guideline value amounts to Rs 1,26,60,000. The stamp duty at 7% would be Rs 8,86,200, and the registration fee at 2% would be Rs 2,53,200, bringing the total fees to Rs 11,39,400. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalashetra Road?

The Sub Registrar Office that covers Kalashetra Road 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 details.

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

The guideline value is an important factor in property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value when negotiating the sale price, as it directly impacts the stamp duty and registration fees applicable to the transaction.

When registering a property, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the official value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Kalashetra Road?

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

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased by 550%, from Rs 1,947 per sq.ft to Rs 12,660 per sq.ft in 2024.

What is the land classification for Kalashetra Road?

Kalashetra Road is classified as Commercial Class I Type - I.

Where can I find the registration office for Kalashetra Road?

The registration office for Kalashetra Road 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 the stamp duty calculated for properties in Thiruvanmiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are applied during the registration process.