Guideline Value for Kalaignar Nagar

Kalaignar Nagar guideline value

The current guideline value of Kalaignar Nagar is Rs 720 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village under the Padappai SRO, classified as Residential Class III Type - I.

How the guideline value of Kalaignar Nagar has changed

The guideline value for Kalaignar Nagar has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 650 per sq.ft. This was followed by a decrease to Rs 435 per sq.ft in 2017. The 2023 revision increased the value to Rs 650 per sq.ft, and the latest revision in 2024 raised it further to Rs 720 per sq.ft, marking an 11% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has risen by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nandambakkam

Nandambakkam has a total of 94 streets under the Padappai SRO, with guideline values for 2024 ranging from Rs 440 to Rs 2,300 per sq.ft. The median guideline value in this area is Rs 880 per sq.ft, placing Kalaignar Nagar's current value below the median.

• Kamakshi Nagar: Rs 880 per sq.ft (2024)
• Iyyan Nagar: Rs 880 per sq.ft (2024)
• Indra Nagar: Rs 770 per sq.ft (2024)
• Kodambakkam High Road: Rs 1,210 per sq.ft (2024)
• Krishna Nagar: Rs 990 per sq.ft (2024)
• Kumaran Nagar: Rs 990 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 720 per sq.ft, the total guideline value amounts to Rs 7,20,000. The stamp duty at 7% would be Rs 50,400, and the registration fee at 2% would be Rs 14,400, bringing the total cost for these fees to Rs 64,800. 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?

The Sub Registrar Office that covers Kalaignar Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering properties in Nandambakkam. It determines the amount of stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a reference point for calculating the applicable taxes. It is essential for both parties to be aware of this value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Kalaignar Nagar?

The current guideline value of Kalaignar Nagar is Rs 720 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2012 to Rs 720 per sq.ft in 2024, with notable changes including a decrease to Rs 435 per sq.ft in 2017 and an increase to Rs 650 per sq.ft in 2023.

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

For a property valued at Rs 7,20,000, the stamp duty would be Rs 50,400 and the registration fee would be Rs 14,400, totaling Rs 64,800.

Which office handles property registrations for Kalaignar Nagar?

The Padappai Sub Registrar Office handles property registrations for Kalaignar Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the significance of the guideline value when buying or selling property?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is important for buyers and sellers to be aware of this value to ensure compliance with local regulations.