Guideline Value for Kalaignar Nagar 2nd Street

Kalaignar Nagar 2nd Street guideline value

The current guideline value of Kalaignar Nagar 2nd Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Panchetty village under the Redhills SRO, classified as Commercial Class I Type - I.

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 2007 revision set the value at Rs 700 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2012 revision. However, in the 2017 revision, it decreased to Rs 670 per sq.ft. Following this, the value saw a significant increase to Rs 1,000 per sq.ft in both the 2023 and 2024 revisions, reflecting a 49% increase from 2017 to 2023.

It is noteworthy that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 43%.

Guideline values in Panchetty

Panchetty village has a total of 46 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 300 to Rs 1,600 per sq.ft. The median guideline value is Rs 1,000 per sq.ft, which is equal to the current value of Kalaignar Nagar 2nd Street.

• Kalaignar Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to 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. 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 more details.

Which Sub Registrar Office covers Kalaignar Nagar 2nd Street?

The Sub Registrar Office that covers Kalaignar Nagar 2nd 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 plays a crucial role during property registration in Panchetty. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized valuation rather than fluctuating market prices.

When buying or selling property, the guideline value is referenced to determine the official value of the transaction. This helps in maintaining transparency and consistency in property dealings within the region.

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 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, with the most recent revision in 2024 setting it at Rs 1,000 per sq.ft. The value was Rs 670 per sq.ft in 2017 and Rs 700 per sq.ft in 2007.

What is the registration office for Kalaignar Nagar 2nd Street?

The registration office for Kalaignar Nagar 2nd Street is the Redhills Sub Registrar Office, 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 1,000 sq.ft property valued at Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000.

What other streets have guideline values in Panchetty?

Other streets in Panchetty also have guideline values set for 2024, ranging from Rs 300 to Rs 1,600 per sq.ft. Notably, Kalaignar Nagar 1st Street and Gnt Road also have a guideline value of Rs 1,000 per sq.ft.