Guideline Value for Kalaignar Street

Kalaignar Street guideline value

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

How the guideline value of Kalaignar Street has changed

The guideline value for Kalaignar Street has seen several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 3,860 per sq.ft. The median guideline value is Rs 1,320 per sq.ft, which is the same as the current value for Kalaignar Street.

• Joyson Nagar (Garden): Rs 1,320 per sq.ft (2024)
• Karpagam Nagar: Rs 660 per sq.ft (2024)
• Karpagam Nagar Annexe: Rs 660 per sq.ft (2024)
• Harish Nagar Annex: Rs 880 per sq.ft (2024)
• Ganga Nagar: Rs 880 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaignar Street

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 to Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the 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 for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Thirumudivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kalaignar Street?

The current guideline value of Kalaignar Street 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 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

Are there any years without a guideline value for Kalaignar Street?

Yes, there are no figures available for Kalaignar Street in the years 2002, 2003, 2007, and 2012.

What is the stamp duty rate for properties in Kalaignar Street?

The stamp duty rate for properties in Kalaignar Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kalaignar Street located?

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