Guideline Value for Kalaam Nagar

Kalaam Nagar guideline value

The current guideline value of Kalaam Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Varadarajapuram village under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kalaam Nagar has changed

The guideline value for Kalaam Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 150 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a 500% rise. However, it then decreased to Rs 603 per sq.ft in the 2017 revision, reflecting a 33% decline. The value then rose to Rs 900 per sq.ft in the 2023 revision, followed by a further increase to Rs 990 per sq.ft in the 2024 revision, which is a 10% increase.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 560%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median of Rs 1,650 per sq.ft. The guideline value of Rs 990 per sq.ft for Kalaam Nagar is below this median.

• Kabhi Nagar: Rs 1,650 per sq.ft (2024)
• Kabaleeswaran Nagar: Rs 1,650 per sq.ft (2024)
• Kalpataru Guru Ganesh Avenue Phase-I: Rs 2,480 per sq.ft (2024)
• Joshia Nagar: Rs 1,320 per sq.ft (2024)
• Kamatchi Amman Nagar: Rs 1,650 per sq.ft (2024)
• Jashmine Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that the 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 Kalaam Nagar?

The Sub Registrar Office that covers Kalaam Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Varadarajapuram. It determines the amount of stamp duty and registration fees that need to be paid, which are based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the current guideline value, as it can significantly affect the overall cost of the transaction. Buyers should ensure that they are informed about the guideline value to avoid any unexpected expenses during the registration process.

Frequently asked questions

What is the current guideline value of Kalaam Nagar?

The current guideline value of Kalaam Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, showing an overall increase of 560% across the years.

What are the stamp duty and registration fees for a property in Kalaam Nagar?

For a property of 1,000 sq.ft at the guideline value of Rs 990 per sq.ft, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which office handles property registrations for Kalaam Nagar?

The Padappai Sub Registrar Office handles property registrations for Kalaam Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Kalaam Nagar?

Kalaam Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.