Guideline Value for Kalaignar Street

Kalaignar Street guideline value

The current guideline value of Kalaignar Street in Madambakkam village, under the Selaiyur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class II Type - II.

How the guideline value of Kalaignar Street has changed

The guideline value for Kalaignar Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. The most recent revision in 2024 shows an increase to Rs 1,300 per sq.ft, marking a 62% increase from the 2017 figure. Overall, from 2012 to 2024, there has been a slight increase of 8%.

It is important to note that there are no recorded guideline values for Kalaignar Street in the years 2002, 2003, 2007, and 2023. This lack of data means that the figures for these years are not available for comparison.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value of Kalaignar Street is below this median.

• Kalaignar Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Kalaignar Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Kalaignar Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Kalaignar Nagar: Rs 1,300 per sq.ft (2024)
• Kalaimagal Street: Rs 1,300 per sq.ft (2024)
• Kakkanji Street: Rs 1,300 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is essential 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?

Kalaignar Street falls under the Selaiyur Sub Registrar Office located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madambakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value helps determine the official value of the transaction, which can influence the sale price. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Kalaignar Street?

The current guideline value of Kalaignar Street is Rs 1,300 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, and then increased to Rs 1,300 per sq.ft in 2024.

What is the land classification for Kalaignar Street?

Kalaignar Street is classified as Residential Class II Type - II under the current guidelines.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Madambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 13,00,000 would incur a stamp duty of Rs 91,000 at 7%.