Guideline Value for KALINGARAYAR AVENUE

Kalingarayar Avenue guideline value

The current guideline value of Kalingarayar Avenue in Attanthangal village is Rs 440 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Kalingarayar Avenue has changed

The guideline value for Kalingarayar Avenue has seen several revisions over the years. In 2012, the value was Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017. Following this, the value increased significantly to Rs 400 per sq.ft in 2023, and most recently, it has risen to Rs 440 per sq.ft in 2024, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a notable increase of 49% in the guideline value. Overall, from 2012 to 2024, the guideline value has increased by 10% despite the dip observed between 2012 and 2017.

Guideline values in Attanthangal

In Attanthangal, there are 80 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 880 per sq.ft, where the median value is Rs 880 per sq.ft. Kalingarayar Avenue's 2024 guideline value is below this median.

• Jothipasu Nagar (Maruthupandi Nagar): Rs 550 per sq.ft (2024)
• Jothi Nagar: Rs 550 per sq.ft (2024)
• Jai Nagar: Rs 550 per sq.ft (2024)
• Karumariamman Koil Cross Street: Rs 880 per sq.ft (2024)
• Gopalapuram Nagar: Rs 550 per sq.ft (2024)
• Gandhi Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Kalingarayar Avenue

For a 1,000 sq.ft plot at the current rate of Rs 440 per sq.ft, the guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalingarayar Avenue?

Kalingarayar Avenue is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Attanthangal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations.

Frequently asked questions

What is the current guideline value of Kalingarayar Avenue?

The current guideline value of Kalingarayar Avenue is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification of Kalingarayar Avenue?

Kalingarayar Avenue is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Kalingarayar Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at Rs 440 per sq.ft, the total stamp duty and registration fees would amount to Rs 39,600.