Guideline Value for KALIDASAR STREET

Kalidasar Street guideline value

The current guideline value of Kalidasar Street in Pallikaranai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Kalidasar Street has changed

The guideline value for Kalidasar Street has seen several revisions over the years. In 2002, the guideline value was Rs 104 per sq.ft, which increased to Rs 123 per sq.ft in 2003, marking an 18% rise. By 2007, the value surged to Rs 400 per sq.ft, reflecting a significant increase of 225%. The value remained at Rs 1,500 per sq.ft from 2012 until 2023, with no change during this period. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, a 10% increase from the previous year’s value of Rs 1,500 per sq.ft.

It is important to note that there is no figure available for the year 2017 for this street in the register.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, 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, which is equal to the current guideline value of Kalidasar Street.

• Kalasekar Nagar: Rs 1,110 per sq.ft (2024)
• Kalaivanar 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 Kalidasar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 Kalidasar Street?

The Sub Registrar Office that covers Kalidasar Street 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 is a crucial factor in property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value during negotiations and when finalizing the sale price.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kalidasar Street?

The current guideline value of Kalidasar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 104 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1487%.

What is the land classification for Kalidasar Street?

Kalidasar Street is classified as Residential Class IV Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Kalidasar Street?

The Sub Registrar Office for Kalidasar Street 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 are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000.