Guideline Value for Kalaijar Nedunchalai Street

Kalaijar Nedunchalai Street guideline value

The current guideline value of Kalaijar Nedunchalai Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Commercial Class I Type - II.

How the guideline value of Kalaijar Nedunchalai Street has changed

The guideline value for Kalaijar Nedunchalai Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and finally to Rs 3,300 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO with guideline values for 2024 ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Kalaijar Nedunchalai Street's 2024 figure above this median.

• Kalaijar Nedunchalai Extn: Rs 2,200 per sq.ft (2024)
• Kalaimagal Saba St: Rs 1,320 per sq.ft (2024)
• Kalaimagal St: Rs 1,320 per sq.ft (2024)
• Kalainjar Nedunjalai 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Kalainjar Nedunjalai 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Kalainjar Nedunjalai 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaijar Nedunchalai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important 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 Kalaijar Nedunchalai Street?

The Sub Registrar Office that covers Kalaijar Nedunchalai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential metric used during the registration of property transactions in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property, ensuring that these fees are based on a standardized value rather than the negotiated sale price.

When buying or selling property, it's crucial to be aware of the guideline value, as it impacts the overall transaction costs. Buyers should ensure that they are informed about the current guideline values to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Kalaijar Nedunchalai Street?

The current guideline value of Kalaijar Nedunchalai Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Kalaijar Nedunchalai Street?

The land classification for Kalaijar Nedunchalai Street is Commercial Class I Type - II.

What are the other streets in Peerklankaranai and their guideline values?

Other streets in Peerklankaranai include Kalaijar Nedunchalai Extn at Rs 2,200 per sq.ft, Kalaimagal Saba St at Rs 1,320 per sq.ft, and several others, all having their respective guideline values.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Kalaijar Nedunchalai Street is located at No.26, Mes Road, East Tambaram, Chennai-600059. You can also find your specific SRO online.