Guideline Value for Kalaignar Nagar 1st Street

Kalaignar Nagar 1st Street guideline value

The current guideline value of Kalaignar Nagar 1st Street, located in Panchetty village under the Redhills SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This street falls under the Commercial Class I Type - I land classification.

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

In the 2007 revision, the guideline value was Rs 700 per sq.ft. This increased to Rs 1,000 per sq.ft in the 2012 revision, marking a rise of 43%. However, in the 2017 revision, the value decreased by 33% to Rs 670 per sq.ft. The 2023 revision saw a significant increase of 49%, bringing the guideline value back to Rs 1,000 per sq.ft, where it remained unchanged in the 2024 revision.

The register has no figure for this street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 43%.

Guideline values in Panchetty

Panchetty village has 46 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 1,600 per sq.ft. The median value is Rs 1,000 per sq.ft, which matches the guideline value of Kalaignar Nagar 1st Street.

• Kalaignar Nagar 2nd Street: Rs 1,000 per sq.ft (2024)
• Jayam Nagar: Rs 800 per sq.ft (2024)
• Kkn Garden: Rs 670 per sq.ft (2024)
• Gnt Road: Rs 1,000 per sq.ft (2024)
• Ganesh Nagar Main Street: Rs 1,000 per sq.ft (2024)
• Ganesh Nagar 1st Street: Rs 1,000 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 rate of Rs 1,000 per sq.ft, the guideline value would be Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalaignar Nagar 1st Street?

The Sub Registrar Office that covers Kalaignar Nagar 1st Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Panchetty. It serves as a benchmark for determining the minimum value of a property for registration purposes.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. These fees are based on the higher of the guideline value and the sale price, ensuring that the government receives the appropriate revenue from 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 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 700 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreasing to Rs 670 per sq.ft in 2017, and returning to Rs 1,000 per sq.ft in 2023 and 2024.

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

Kalaignar Nagar 1st Street is classified as Commercial Class I Type - I under the land classification system.

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

The Sub Registrar Office covering Kalaignar Nagar 1st Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at a rate of 7%.