Guideline Value for KALKI NAGAR I ST STREET

Kalki Nagar I St Street guideline value

The current guideline value of Kalki Nagar I St Street is Rs 4,700 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Kalki Nagar I St Street has changed

The guideline value for Kalki Nagar I St Street has seen several revisions over the years. The earliest recorded figure is from 2007, set at Rs 1,050 per sq.ft. This value increased significantly to Rs 4,300 per sq.ft in 2012, marking a 310% rise. However, it then decreased to Rs 2,881 per sq.ft in 2017, a decline of 33%. The value rebounded to Rs 4,300 per sq.ft in 2023, and further increased to the current rate of Rs 4,700 per sq.ft in 2024, reflecting a 9% rise from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 348%.

Guideline values in Arumbakkam

In Arumbakkam village, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. The guideline value of Kalki Nagar I St Street is below this median.

• Kalki Nagar II Nd Street: Rs 4,700 per sq.ft (2024)
• Kalkinagar Main Road: Rs 5,000 per sq.ft (2024)
• Jeevarathinam Street: Rs 4,400 per sq.ft (2024)
• J.D.Durairaj Nagar: Rs 3,800 per sq.ft (2024)
• Kannaki Street: Rs 4,400 per sq.ft (2024)
• Kannan Bala Nagar: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kalki Nagar I St Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,700 per sq.ft, the total guideline value would be Rs 47,00,000. The stamp duty at 7% would be Rs 3,29,000, and the registration fee at 2% would be Rs 94,000, bringing the total to Rs 4,23,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalki Nagar I St Street?

The Sub Registrar Office that covers Kalki Nagar I St Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

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

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kalki Nagar I St Street?

The current guideline value of Kalki Nagar I St Street is Rs 4,700 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 1,050 per sq.ft in 2007 to Rs 4,700 per sq.ft in 2024, marking an overall increase of 348%.

What are the stamp duty and registration fees for properties in Kalki Nagar I St Street?

For a property valued at Rs 47,00,000, the stamp duty would be Rs 3,29,000, and the registration fee would be Rs 94,000, totaling Rs 4,23,000.

Which Sub Registrar Office covers this street?

The Kodambakkam Sub Registrar Office covers Kalki Nagar I St Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification of Kalki Nagar I St Street?

Kalki Nagar I St Street is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.