Guideline Value for Kaalappa Naicken Street

Kaalappa Naicken Street guideline value

The current guideline value of Kaalappa Naicken Street is Rs 2,700 per sq.ft. This street is located in Kolathur village, under the jurisdiction of the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kaalappa Naicken Street has changed

The guideline value for Kaalappa Naicken Street has seen several revisions over the years. The earliest recorded figure is from 2003, with a value of Rs 226 per sq.ft. This increased to Rs 700 per sq.ft in 2007, then rose significantly to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017, before climbing to Rs 2,500 per sq.ft in 2023. The latest revision, effective from 1 July 2024, sets the guideline value at Rs 2,700 per sq.ft.

In terms of percentage changes, the guideline value increased by 210% from 2003 to 2007, followed by a 257% increase from 2007 to 2012. The value then decreased by 33% from 2012 to 2017, and saw a 49% increase from 2017 to 2023. The most recent change from 2023 to 2024 is an increase of 8%. Overall, from 2003 to 2024, the guideline value has risen by 1095%. The register has no figure for the year 2002 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which means Kaalappa Naicken Street's 2024 figure is below that median.

• Kadappa Road: Rs 2,700 per sq.ft (2024)
• Kaithe Millath Street: Rs 2,700 per sq.ft (2024)
• Kalaimagal Nagar: Rs 2,700 per sq.ft (2024)
• Kalainger Karunanithi Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Kalainger Karunanithi Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Kalainger Karunanithi Nagar 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kaalappa Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kaalappa Naicken Street?

Kaalappa Naicken Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Kolathur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value ensures that the state receives the appropriate revenue from the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with registration laws and to avoid any legal issues during the sale process.

Frequently asked questions

What is the current guideline value of Kaalappa Naicken Street?

The current guideline value of Kaalappa Naicken Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 226 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 1095% over this period.

What is the land classification for Kaalappa Naicken Street?

Kaalappa Naicken Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.

What factors influence the stamp duty and registration fees?

The stamp duty and registration fees are influenced by the guideline value of the property or the sale price, whichever is higher. This ensures that the state collects the appropriate revenue during property transactions.