Guideline Value for Kalaignar Salai

Kalaignar Salai guideline value

The current guideline value of Kalaignar Salai is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kovilambakkam village under the Pallavaram SRO and is classified as Residential Class I Type - III.

How the guideline value of Kalaignar Salai has changed

The guideline value for Kalaignar Salai has undergone several revisions over the years. In the 2007 revision, the value was Rs 350 per sq.ft, which saw a significant increase to Rs 2,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision set it at Rs 2,200 per sq.ft. The register has no figures for the years 2002 and 2003.

From the 2017 to 2023 revision, there was a notable increase of 49%. The 2023 to 2024 revision saw a further increase of 10%. The overall change from the 2007 revision to the 2024 revision is an increase of 529%.

Guideline values in Kovilambakkam

Kovilambakkam has 61 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,610 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing the 2024 figure for Kalaignar Salai below that median.

• Kalaingar Salai 1 To 4 Streets: Rs 2,160 per sq.ft (2024)
• Kamarajar Salai 2 And 3rd Street: Rs 2,160 per sq.ft (2024)
• Kamaraj Street: Rs 2,200 per sq.ft (2024)
• Karpagam Nagar: Rs 2,750 per sq.ft (2024)
• Indrajit Avenue: Rs 2,750 per sq.ft (2024)
• Kbg Nagar: Rs 2,750 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaignar Salai?

The Sub Registrar Office that covers Kalaignar Salai is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovilambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Kalaignar Salai?

The current guideline value of Kalaignar Salai is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 350 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 529% over this period.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which Sub Registrar Office covers Kovilambakkam?

The Pallavaram Sub Registrar Office covers Kovilambakkam. It is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Kalaignar Salai?

Kalaignar Salai is classified as Residential Class I Type - III, indicating its suitability for residential developments.