Guideline Value for KALYANAPURAM NEW MARKET STREET

Kalyanapuram New Market Street guideline value

The current guideline value of Kalyanapuram New Market Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, and it falls under the Residential Class V Type - I land classification.

How the guideline value of Kalyanapuram New Market Street has changed

The guideline value for Kalyanapuram New Market Street has seen several revisions over the years. In 2002, the value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, marking an increase of 36% from the previous revision. The value then surged to Rs 1,500 per sq.ft in 2012, reflecting a remarkable 200% increase from 2007. However, it decreased to Rs 1,005 per sq.ft in 2017, a decline of 33% from the 2012 figure.

In the subsequent revisions, the guideline value rose to Rs 1,500 per sq.ft in 2023, and further increased to the current rate of Rs 1,600 per sq.ft in 2024, which is a 7% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 376%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Kalyanapuram New Market Street's current guideline value of Rs 1,600 per sq.ft is below this median.

• Kalyanapuram Main Road Ab Block: Rs 1,600 per sq.ft (2024)
• Kalyanapuram C Block 9th Street: Rs 1,600 per sq.ft (2024)
• Kalyanapuram C Block 8th Street: Rs 1,600 per sq.ft (2024)
• Kalyanapuram C Block 7th Street: Rs 1,600 per sq.ft (2024)
• Kalyanapuram C Block 6th Street: Rs 1,600 per sq.ft (2024)
• Kalyanapuram C Block 5th Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kalyanapuram New Market Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kalyanapuram New Market Street?

The Kalyanapuram New Market Street falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and complies with legal requirements.

Frequently asked questions

What is the current guideline value of Kalyanapuram New Market Street?

The current guideline value of Kalyanapuram New Market Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 336 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 376% over the years.

What is the stamp duty rate for properties in Kalyanapuram New Market Street?

The stamp duty rate for properties in Kalyanapuram New Market Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kalyanapuram New Market Street?

The Sub Registrar Office for Kalyanapuram New Market Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property. When a property is sold, the higher of the guideline value and the sale price is used to calculate stamp duty and registration fees.