Guideline Value for Kalaignar Nagar

Kalaignar Nagar guideline value

The current guideline value of Kalaignar Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Vilangadupakkam village under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Kalaignar Nagar has changed

Over the years, the guideline value of Kalaignar Nagar has seen several revisions. In 2007, the value was Rs 500 per sq.ft, which increased by 40% to Rs 700 per sq.ft in 2012. However, it decreased by 33% to Rs 469 per sq.ft in 2017. The value then rose significantly by 49% to Rs 700 per sq.ft in 2023, and further increased by 10% to the current value of Rs 770 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

From 2007 to 2024, the overall increase in the guideline value is 54%. The changes between the revisions illustrate fluctuations in the property values over time, reflecting the dynamics of the real estate market in this area.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft. The median value for these streets is Rs 440 per sq.ft, placing the guideline value of Kalaignar Nagar above this median.

• Kalaignar Nagar: Rs 440 per sq.ft (2024)
• Kalikambal Nagar Phase - II: Rs 440 per sq.ft (2024)
• Kamarajar Nagar: Rs 440 per sq.ft (2024)
• J.H.Avenue: Rs 600 per sq.ft (2024)
• Jayaraj Nagar: Rs 440 per sq.ft (2024)
• Jaya Ganapathy Street: Rs 440 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaignar Nagar?

Kalaignar Nagar falls under the jurisdiction of the Redhills Sub Registrar Office. The address is Sub Registrar Office, 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 Vilangadupakkam

The guideline value is a crucial factor when buying or selling property in Vilangadupakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware of the guideline value to ensure compliance with the legal requirements during property transactions.

When a property is registered, the guideline value is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Kalaignar Nagar?

The current guideline value of Kalaignar Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 54% over the years.

What is the stamp duty for property in Kalaignar Nagar?

The stamp duty for property in Kalaignar Nagar is 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 53,900.

Which Sub Registrar Office covers Kalaignar Nagar?

Kalaignar Nagar is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Vilangadupakkam?

The median guideline value in Vilangadupakkam is Rs 440 per sq.ft, with the guideline value of Kalaignar Nagar being above this median.