Guideline Value for Kalaignar Street

Kalaignar Street guideline value

The current guideline value for Kalaignar Street in Orakadu & Kiruthalapuram village is Rs 385 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I 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 2007, the value was Rs 300 per sq.ft, which increased to Rs 350 per sq.ft in 2012. However, it then decreased to Rs 234 per sq.ft in 2017, marking a -33% change. The value rebounded significantly to Rs 350 per sq.ft in 2023, before reaching the current figure of Rs 385 per sq.ft in 2024, reflecting a +10% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by +28%.

Guideline values in Orakadu & Kiruthalapuram

In Orakadu & Kiruthalapuram, there are 34 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 900 per sq.ft. The median value is Rs 385 per sq.ft, which is the same as the guideline value for Kalaignar Street.

• Kakkanji Street: Rs 275 per sq.ft (2024)
• Kambar Street: Rs 385 per sq.ft (2024)
• Infinity Industrial And Logistics Park: Rs 351 per sq.ft (2024)
• Kirudhalapuram Pradhana Salai: Rs 385 per sq.ft (2024)
• Gomathiamman Nagar Anex- XI: Rs 275 per sq.ft (2024)
• Kulakkarai Street: Rs 275 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 385 per sq.ft, the total guideline value amounts to Rs 3,85,000. The stamp duty at 7% would be Rs 26,950, and the registration fee at 2% would be Rs 7,700, bringing the total fees to Rs 34,650. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaignar Street?

The Sub Registrar Office that covers Kalaignar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more assistance.

How the guideline value is used when you buy or sell in Orakadu & Kiruthalapuram

The guideline value plays a crucial role in the registration process of property transactions in Orakadu & Kiruthalapuram. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in this area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration reflects a fair value based on the current market conditions as determined by the guideline values.

Frequently asked questions

What is the current guideline value of Kalaignar Street?

The current guideline value of Kalaignar Street is Rs 385 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 385 per sq.ft in 2024, with various revisions occurring in between.

What are the other streets in Orakadu & Kiruthalapuram with their guideline values?

Other streets in Orakadu & Kiruthalapuram include Kakkanji Street at Rs 275 per sq.ft, Kambar Street at Rs 385 per sq.ft, and others with varying rates.

What fees are applicable when registering property in Kalaignar Street?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Kalaignar Street?

The Redhills Sub Registrar Office handles the registration for Kalaignar Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.