Guideline Value for Kalaignar Nagar 3rd Street

Kalaignar Nagar 3rd Street guideline value

The current guideline value of Kalaignar Nagar 3rd Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Kalaignar Nagar 3rd Street has changed

The guideline value for Kalaignar Nagar 3rd Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an increase from Rs 804 per sq.ft in 2017, which represents a change of +62%. Prior to that, the 2012 revision had the value at Rs 1,200 per sq.ft, indicating a decrease of -33% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by +8%. Notably, the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing the current value of Kalaignar Nagar 3rd Street below this median.

• Kalaignar Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Kalaignar Nagar 1st 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 3rd Street

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

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaignar Nagar 3rd Street?

The Sub Registrar Office that covers Kalaignar Nagar 3rd 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When buying or selling property, the guideline value ensures that the transaction reflects a fair valuation, preventing undervaluation of property and ensuring that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Kalaignar Nagar 3rd Street?

The current guideline value of Kalaignar Nagar 3rd 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. This represents a +62% increase from 2017 to 2024 and an overall +8% increase from 2012 to 2024.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Kalaignar Nagar 3rd Street?

The Selaiyur Sub Registrar Office handles registrations for Kalaignar Nagar 3rd Street. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the significance of the guideline value in property transactions?

The guideline value serves as a minimum benchmark for property transactions and is used to calculate stamp duty and registration fees. It ensures that properties are not undervalued during sales, maintaining a fair taxation system.