Guideline Value for Kalaignar Salai

Kalaignar Salai guideline value

The current guideline value of Kalaignar Salai is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village and falls under the Padappai SRO, classified as Residential Class IV Type - I.

How the guideline value of Kalaignar Salai has changed

The guideline value for Kalaignar Salai has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. The guideline value then increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and further rose to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

To summarize the changes: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungalathur

In Perungalathur, a total of 411 streets are listed under the Padappai SRO for the 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, indicating that the guideline value for Kalaignar Salai is below this median.

• Kalaimagal Street: Rs 2,310 per sq.ft (2024)
• Kalaingar Karunanthi Street: Rs 2,310 per sq.ft (2024)
• Kakkanji Street: Rs 1,980 per sq.ft (2024)
• Kalaivanar Street: Rs 2,310 per sq.ft (2024)
• Kaja Hayath Nagar: Rs 2,970 per sq.ft (2024)
• Kailash Avenue and Extn: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaignar Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. Please note that 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 information.

Which Sub Registrar Office covers Kalaignar Salai?

The Sub Registrar Office covering Kalaignar Salai 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 details.

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

The guideline value is a crucial factor during the registration of property in Perungalathur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling a property, the guideline value helps in assessing the transaction value. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kalaignar Salai?

The current guideline value of Kalaignar Salai is Rs 1,320 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, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the registration fee for properties in Kalaignar Salai?

The registration fee is calculated at 2% of the guideline value. For example, on a property valued at Rs 13,20,000, the registration fee would be Rs 26,400.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value serves as the minimum value for property registration, impacting the stamp duty and registration fees payable during a transaction. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration norms.