Guideline Value for Kalaignar Street

Kalaignar Street guideline value

The current guideline value of Kalaignar Street in Mudichur village, under the Padappai SRO, is Rs 1,210 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Kalaignar Street has changed

The guideline value for Kalaignar Street has seen several revisions over the years. In the 2012 revision, the value was Rs 1,100 per sq.ft, which decreased to Rs 737 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,100 per sq.ft in the 2023 revision, and then rose again to Rs 1,210 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The changes between revisions are as follows: from 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the guideline value of Kalaignar Street below this median.

• Kalaignar Karunanithi Street: Rs 1,210 per sq.ft (2024)
• Kamakshi Nagar: Rs 2,200 per sq.ft (2024)
• Kambar Street: Rs 1,760 per sq.ft (2024)
• Kannaki Street: Rs 1,210 per sq.ft (2024)
• Karumari Amman Nagar: Rs 880 per sq.ft (2024)
• Indira Gandhi Street: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaignar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,210 per sq.ft, the guideline value totals Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, making the total cost Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalaignar Street?

The Sub Registrar Office that covers Kalaignar Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO here.

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

The guideline value is an essential factor in the registration process for property transactions in Mudichur. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is crucial for buyers and sellers to be aware of the current guideline value, as it directly affects the overall cost of the transaction. Accurate knowledge of the guideline value helps in ensuring compliance with local regulations during property transfers.

Frequently asked questions

What is the current guideline value of Kalaignar Street?

The current guideline value of Kalaignar Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then increased to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What is the land classification for Kalaignar Street?

Kalaignar Street is classified as Residential Class II Type - I.

Where can I find the registration office for Kalaignar Street?

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

How is stamp duty calculated for properties in Mudichur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 12,10,000, the stamp duty at 7% would be Rs 84,700.