Guideline Value for KALLIKUPPAM PADASALAI STREET (SCHOOL STREET)

Kallikuppam Padasalai Street (School Street) guideline value

The current guideline value of Kallikuppam Padasalai Street (School Street) is Rs 2,100 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kallikuppam Padasalai Street (School Street) has changed

The guideline value for Kallikuppam Padasalai Street has undergone several revisions over the years. In 2007, the value was Rs 375 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 433%. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, and most recently, it increased to Rs 2,100 per sq.ft in 2024, reflecting a 5% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 460%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, making Kallikuppam Padasalai Street's current guideline value below the median.

• Kallikuppam Murugambedu Road: Rs 1,600 per sq.ft (2024)
• Kallikuppam Perumal Koil Street: Rs 2,100 per sq.ft (2024)
• Kallikuppam Pillaiyar Koil Street: Rs 2,100 per sq.ft (2024)
• Kallikuppam Pilliyar Koil Street (North): Rs 2,100 per sq.ft (2024)
• Kamala Nagar: Rs 1,600 per sq.ft (2024)
• Kakkai Nagar (North Of M.T.H Road): Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kallikuppam Padasalai Street (School Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, making the total Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kallikuppam Padasalai Street (School Street)?

The Kallikuppam Padasalai Street (School Street) falls under the Villivakkam Sub Registrar Office. The address is Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two values is used to calculate the relevant duties. This ensures that the transaction is recorded accurately and fairly in accordance with the prevailing regulations.

Frequently asked questions

What is the current guideline value of Kallikuppam Padasalai Street?

The current guideline value of Kallikuppam Padasalai Street (School Street) is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 375 per sq.ft in 2007 to Rs 2,100 per sq.ft in 2024, reflecting an overall increase of 460% over the years.

What is the land classification for Kallikuppam Padasalai Street?

Kallikuppam Padasalai Street is classified as Residential Class III Type - I.

What is the registration office for Kallikuppam Padasalai Street?

The registration office covering Kallikuppam Padasalai Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Kallikuppam Padasalai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 21,00,000, the stamp duty would be Rs 1,47,000 at 7%.