Guideline Value for Kalaignar Street Vinayaga Nagar

Kalaignar Street Vinayaga Nagar guideline value

The current guideline value of Kalaignar Street Vinayaga Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village and falls under the Pammal SRO, classified as Residential Class I Type - I.

How the guideline value of Kalaignar Street Vinayaga Nagar has changed

Over the years, the guideline value for Kalaignar Street Vinayaga Nagar has seen significant changes. The 2017 revision recorded a guideline value of Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision. The most recent 2024 revision has further increased this value to Rs 1,650 per sq.ft, marking a 10% rise from the previous year. Notably, from 2017 to 2024, the overall increase is 64%.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. The changes between the revisions indicate a 49% increase from 2017 to 2023, demonstrating a steady upward trend in the guideline value.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing the 2024 figure for Kalaignar Street Vinayaga Nagar above this median.

• Kalaignar Street (7): Rs 1,650 per sq.ft (2024)
• Kalaignar Street (13): Rs 1,650 per sq.ft (2024)
• Kalaignar Street (1): Rs 1,650 per sq.ft (2024)
• Kalaignar 3rd Cross Street: Rs 1,650 per sq.ft (2024)
• Kalaignar 2nd Street: Rs 1,650 per sq.ft (2024)
• Kakkanji Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaignar Street Vinayaga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. 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 detailed calculations.

Which Sub Registrar Office covers Kalaignar Street Vinayaga Nagar?

The Sub Registrar Office that covers Kalaignar Street Vinayaga Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property transactions in Pozhichalur, as it determines the minimum value at which the property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When a property is sold, the guideline value serves as a benchmark for calculating the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Kalaignar Street Vinayaga Nagar?

The current guideline value of Kalaignar Street Vinayaga Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,650 per sq.ft in 2024, marking an overall increase of 64%.

What were the guideline values in the previous revisions?

The guideline values for previous revisions are as follows: Rs 1,005 per sq.ft in 2017, Rs 1,500 per sq.ft in 2023, and Rs 1,650 per sq.ft in 2024. There are no figures available for the revisions in 2002, 2003, 2007, and 2012.

What is the registration office for properties in this area?

The registration office for properties in Kalaignar Street Vinayaga Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Pozhichalur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,50,000, the stamp duty would be calculated at 7% of this amount.