Guideline Value for Kalaignar Nagar 1st Street

Kalaignar Nagar 1st Street guideline value

The current guideline value of Kalaignar Nagar 1st Street is Rs 807 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village under the Ambattur SRO, classified as Residential Class III Type - II.

How the guideline value of Kalaignar Nagar 1st Street has changed

The guideline value for Kalaignar Nagar 1st Street has undergone several revisions over the years. In 2012, the guideline value was Rs 500 per sq.ft, which increased to Rs 335 per sq.ft in 2017. This was a decrease of 33%. However, from 2017 to 2023, the value saw a significant increase to Rs 807 per sq.ft, marking a 141% rise. The 2023 revision maintained this value at Rs 807 per sq.ft, and the same value continues into the 2024 revision.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 61%.

Guideline values in Kovilpathagai

Kovilpathagai has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value in this village is Rs 870 per sq.ft, indicating that the guideline value for Kalaignar Nagar 1st Street is below this median.

• Kalaignar Nagar 20th Street: Rs 807 per sq.ft (2024)
• Kalaignar Nagar 1st Main Road: Rs 807 per sq.ft (2024)
• Kalaignar Nagar 19th Street: Rs 807 per sq.ft (2024)
• Kalaignar Nagar 18th Street: Rs 807 per sq.ft (2024)
• Kalaignar Nagar 2nd Street: Rs 807 per sq.ft (2024)
• Kalaignar Nagar 17th Street: Rs 807 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaignar Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 807 per sq.ft, the total guideline value would be Rs 8,07,000. The stamp duty at 7% would amount to Rs 56,490, and the registration fee at 2% would be Rs 16,140. Together, the total cost for stamp duty and registration would be Rs 72,630. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Kalaignar Nagar 1st Street?

The Sub Registrar Office that covers Kalaignar Nagar 1st Street is the Ambattur Sub Registrar Office. The address is Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Kovilpathagai. It serves as a benchmark for determining the minimum value of the property, which is used to calculate stamp duty and registration fees.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a fair value, preventing undervaluation. This process is crucial for both buyers and sellers to ensure compliance with the legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Kalaignar Nagar 1st Street?

The current guideline value of Kalaignar Nagar 1st Street is Rs 807 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 500 per sq.ft in 2012 to Rs 807 per sq.ft in 2024, marking an overall increase of 61% over this period.

What is the land classification of Kalaignar Nagar 1st Street?

Kalaignar Nagar 1st Street is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Kalaignar Nagar 1st Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Kovilpathagai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 8,07,000 would incur a stamp duty of Rs 56,490 at 7%.