Guideline Value for Kalaignar Nagar

Kalaignar Nagar guideline value

The current guideline value of Kalaignar Nagar in Madambakkam village is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Residential Class II Type - II.

How the guideline value of Kalaignar Nagar has changed

The guideline value of Kalaignar Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to the 2024 revision, the value increased significantly by 62% to reach the current rate of Rs 1,300 per sq.ft. Notably, there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street.

Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%. This indicates that while there was a decline between 2012 and 2017, the value rebounded in the latest revision.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Kalaignar Nagar is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost for these fees 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaignar Nagar?

The Sub Registrar Office that covers Kalaignar Nagar 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 information.

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

The guideline value is a crucial factor during property transactions in Madambakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when registering property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value helps determine the official value of the property for registration purposes. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid based on the established value.

Frequently asked questions

What is the current guideline value of Kalaignar Nagar?

The current guideline value of Kalaignar Nagar 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 increased to Rs 1,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the land classification of Kalaignar Nagar?

Kalaignar Nagar is classified as Residential Class II Type - II, which indicates its intended use for residential purposes.

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

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. The duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Kalaignar Nagar located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.