Guideline Value for Kalaimagal Avenue

Kalaimagal Avenue guideline value

The current guideline value of Kalaimagal Avenue is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Korukanthangal village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Kalaimagal Avenue has changed

The guideline value for Kalaimagal Avenue has undergone several revisions over the years. In 2007, the value was Rs 160 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 500 per sq.ft, showing no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from 2007 to 2024 reflects a substantial rise of 213%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Korukanthangal

In Korukanthangal, there are 25 streets under the Gooduvancheri SRO that carry a guideline value of Rs 500 per sq.ft as of 2024, with the median also being Rs 500 per sq.ft. This places Kalaimagal Avenue at the same level as the median value.

• Kannadasan Nagar: Rs 500 per sq.ft (2024)
• Krishna Nagar: Rs 500 per sq.ft (2024)
• Krishna Nagar Extn-III: Rs 500 per sq.ft (2024)
• L.V.R. Nagar: Rs 500 per sq.ft (2024)
• Mahalakshmi Avenue: Rs 500 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaimagal Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaimagal Avenue?

The Sub Registrar Office that covers Kalaimagal Avenue is 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 Korukanthangal

The guideline value is a crucial factor when registering property in Korukanthangal. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers should be aware that the guideline value reflects the minimum value at which the property can be registered.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Kalaimagal Avenue?

The current guideline value of Kalaimagal Avenue is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revisions in 2023 and 2024 maintaining the value at Rs 500 per sq.ft. The value was Rs 335 per sq.ft in 2017 and Rs 160 per sq.ft in 2007.

What is the land classification for Kalaimagal Avenue?

Kalaimagal Avenue is classified as Residential Special Type - I. This classification is important for understanding the zoning and potential uses of the land.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000. This is based on the guideline value of Rs 500 per sq.ft.

Which office handles the registration for Kalaimagal Avenue?

The Gooduvancheri Sub Registrar Office is responsible for handling registrations for properties on Kalaimagal Avenue. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.