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 Mannivakkam village under the Gooduvancheri SRO and is classified as Residential Special Type - III.

How the guideline value of Kalaignar Street has changed

The guideline value for Kalaignar Street has undergone several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in the 2024 revision, representing a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 figure to the 2024 figure, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mannivakkam

Mannivakkam village has a total of 118 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,215 per sq.ft, placing Kalaignar Street's 2024 figure above this median.

• Kalaivanar Nagar: Rs 990 per sq.ft (2024)
• Kalaiyarasi Garden: Rs 990 per sq.ft (2024)
• Kalyani garden: Rs 990 per sq.ft (2024)
• Jothiram Avenue: Rs 990 per sq.ft (2024)
• Jeyam Avenue: Rs 990 per sq.ft (2024)
• Kanimozhi Aravindan Nagar: 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, totaling Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaignar Street?

Kalaignar Street falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Mannivakkam. It serves as the basis for calculating stamp duty and registration fees when buying or selling property. Buyers and sellers must refer to the latest guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price. The higher of the two is used to determine the applicable fees, ensuring that the government receives the appropriate revenue from property transactions.

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 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Kalaignar Street?

Kalaignar Street is classified as Residential Special Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,18,800.

Which Sub Registrar Office covers this area?

The Gooduvancheri Sub Registrar Office covers Kalaignar Street, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.