Guideline Value for Kalaignar Nagar

Kalaignar Nagar guideline value

The current guideline value of Kalaignar Nagar, located in Parangimalai village, is Rs 2,750 per sq.ft. This value is effective from 1 July 2024 and is classified under Residential Class III Type - I. The area falls under the Chennai South Joint II SRO.

How the guideline value of Kalaignar Nagar has changed

The guideline value for Kalaignar Nagar has seen several revisions over the years. In 2002, the value was Rs 256 per sq.ft, which increased to Rs 320 per sq.ft in 2003, marking a 25% rise. The value then saw a substantial increase to Rs 750 per sq.ft in 2007, an increase of 134%. In 2012, the value was Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision. The 2017 revision set the value at Rs 1,675 per sq.ft, a 49% increase from 2012. The 2023 revision brought the value up to Rs 2,500 per sq.ft, and the most recent revision in 2024 has set it at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 974%. The register has no figure for the years between 2012 and 2017, and there are no other revisions listed for this street.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, making the 2024 figure for Kalaignar Nagar below this median.

• Kalaignar Nagar (Kannagi Street): Rs 2,750 per sq.ft (2024)
• Kalaignar Nagar (Muthuranga Mudaliar): Rs 2,750 per sq.ft (2024)
• Kaji Sayabu Street: Rs 3,850 per sq.ft (2024)
• Kadumbadi Amman Koil Street: Rs 2,750 per sq.ft (2024)
• Jilani Sayabu Street: Rs 2,750 per sq.ft (2024)
• Jessli Apartments: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaignar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that 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 more detailed calculations.

Which Sub Registrar Office covers Kalaignar Nagar?

Kalaignar Nagar falls under the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Parangimalai. It serves as a benchmark for determining the registration fees and stamp duty that must be paid during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating the applicable duties.

When registering a property, it is essential to refer to the guideline value to ensure compliance with local regulations. This value helps in maintaining transparency in property transactions and provides a standard reference point for all parties involved.

Frequently asked questions

What is the current guideline value of Kalaignar Nagar?

The current guideline value of Kalaignar Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has experienced several revisions, increasing from Rs 256 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 974% over this period.

What is the median guideline value in Parangimalai?

The median guideline value for the 233 streets in Parangimalai is Rs 3,850 per sq.ft, which is higher than the current value of Kalaignar Nagar.

What are the stamp duty and registration fees for property in Kalaignar Nagar?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Kalaignar Nagar?

The Chennai South Joint II Sub Registrar Office is responsible for handling registrations in Kalaignar Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.