Guideline Value for KALVAIKARAI SALAI

Kalvaikarai Salai guideline value

The current guideline value of Kalvaikarai Salai is Rs 8,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the jurisdiction of the Mylapore SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kalvaikarai Salai has changed

Over the years, the guideline value of Kalvaikarai Salai has seen significant changes. The earliest recorded revision was in 2002, with a guideline value of Rs 1,282 per sq.ft. This figure increased to Rs 1,424 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose sharply to Rs 1,540 per sq.ft, reflecting an 8% increase. The next revision in 2012 saw a substantial jump to Rs 7,500 per sq.ft, an increase of 387%. However, in 2017, the value decreased to Rs 5,025 per sq.ft, a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 8,200 per sq.ft, representing a 63% increase from the 2017 figure. The register has no figure for this street in 2023.

Guideline values in Mylapore

In Mylapore, there are 883 streets listed under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, which means that the current guideline value of Kalvaikarai Salai is below this median.

• KALVAIKARAI SALAI (Nadukuppam South Side): Rs 3,300 per sq.ft (2024)
• Kalvivaru Street: Rs 14,300 per sq.ft (2024)
• Kallukkaran Street: Rs 7,100 per sq.ft (2024)
• Kalingarayan Street: Rs 4,900 per sq.ft (2024)
• Kamarajar Salai: Rs 15,900 per sq.ft (2024)
• Kakanji Nagar: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kalvaikarai Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, while the registration fee at 2% would be Rs 1,64,000. Together, these fees would total Rs 7,38,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kalvaikarai Salai?

The Sub Registrar Office that covers Kalvaikarai Salai is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate taxes based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kalvaikarai Salai?

The current guideline value of Kalvaikarai Salai is Rs 8,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly from Rs 1,282 per sq.ft to Rs 8,200 per sq.ft in 2024, marking an overall increase of 540%.

What are the stamp duty and registration fees for properties in Kalvaikarai Salai?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 7,38,000.

Which Sub Registrar Office covers Kalvaikarai Salai?

The Mylapore Sub Registrar Office covers Kalvaikarai Salai, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the median guideline value in Mylapore?

The median guideline value in Mylapore is Rs 8,800 per sq.ft, which indicates that the guideline value of Kalvaikarai Salai is below this median.