Guideline Value for KALATHUMETTU STREET

Kalathumettu Street guideline value

The current guideline value of Kalathumettu Street is Rs 1,950 per sq.ft, effective from 1 July 2024. This street is located in Ottiyampakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kalathumettu Street has changed

Looking at the historical revisions, the guideline value for Kalathumettu Street has seen several changes. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision, marking a decrease of 33%. However, this was followed by a significant increase to Rs 1,800 per sq.ft in the 2023 revision, and then to Rs 1,950 per sq.ft in the 2024 revision, representing an 8% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,950 per sq.ft, which is equal to the current guideline value of Kalathumettu Street.

• Kalaimagal Street: Rs 1,950 per sq.ft (2024)
• Kamatchi Nagar: Rs 1,300 per sq.ft (2024)
• Kambar Street: Rs 1,300 per sq.ft (2024)
• Jones Cassia-VI: Rs 2,200 per sq.ft (2024)
• Jones Cassia-V: Rs 2,200 per sq.ft (2024)
• Jones Cassia-IV: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kalathumettu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value would be Rs 19,50,000. The stamp duty at 7% would amount to Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total to Rs 1,75,500. 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 Kalathumettu Street?

The Sub Registrar Office covering Kalathumettu Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ottiyampakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the public records.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. These costs are based on the guideline value or the sale price, whichever is higher, making it essential for buyers and sellers to be aware of the current guideline value in their area.

Frequently asked questions

What is the current guideline value of Kalathumettu Street?

The current guideline value of Kalathumettu Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, with the 2012 revision at Rs 1,800 per sq.ft, dropping to Rs 1,206 per sq.ft in 2017, and then rising back to Rs 1,800 per sq.ft in 2023, before reaching Rs 1,950 per sq.ft in 2024.

What is the land classification for Kalathumettu Street?

Kalathumettu Street is classified as Residential Class I Type - I, indicating its designation for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Kalathumettu Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 19,50,000 would incur a stamp duty of Rs 1,36,500 at 7%.