Guideline Value for Kalaignar Nagar 2nd Street

Kalaignar Nagar 2nd Street guideline value

The current guideline value of Kalaignar Nagar 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class II Type - II.

How the guideline value of Kalaignar Nagar 2nd Street has changed

The guideline value for Kalaignar Nagar 2nd Street has undergone several revisions over the years. The register shows the following figures: in 2012, the value was Rs 1,200 per sq.ft; it decreased to Rs 804 per sq.ft in 2017. The most recent revision in 2024 has increased the value to Rs 1,300 per sq.ft. There are no figures available for the years 2002, 2003, 2007, and 2023.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2024, the guideline value increased by 62%. Overall, from 2012 to 2024, the change is an increase of 8%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, placing the 2024 figure for Kalaignar Nagar 2nd Street below that median.

• Kalaignar Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Kalaignar Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Kalaignar Nagar: Rs 1,300 per sq.ft (2024)
• Kalaignar Street: Rs 1,300 per sq.ft (2024)
• Kalaimagal Street: Rs 1,300 per sq.ft (2024)
• Kakkanji Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaignar Nagar 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalaignar Nagar 2nd Street?

The Sub Registrar Office that covers Kalaignar Nagar 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is an important factor when registering property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property transactions.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and reflects the official value set by the government. This is crucial for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Kalaignar Nagar 2nd Street?

The current guideline value of Kalaignar Nagar 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then to Rs 1,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What are the other streets in Madambakkam with the same guideline value?

Other streets in Madambakkam with the same guideline value of Rs 1,300 per sq.ft include Kalaignar Nagar 1st Street, Kalaignar Nagar 3rd Street, Kalaignar Nagar, Kalaignar Street, Kalaimagal Street, and Kakkanji Street.

What are the stamp duty and registration fees for properties in this area?

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 property valued at Rs 13,00,000, the total fees would be Rs 1,17,000.

Where can I find the Sub Registrar Office for Kalaignar Nagar 2nd Street?

The Sub Registrar Office for Kalaignar Nagar 2nd Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.