Guideline Value for Kalaimagal Nagar ( Ward No.26 )

Kalaimagal Nagar ( Ward No.26 ) guideline value

The current guideline value of Kalaimagal Nagar ( Ward No.26 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kalaimagal Nagar ( Ward No.26 ) has changed

The guideline value for Kalaimagal Nagar was last revised in 2024, where it increased to Rs 1,300 per sq.ft from Rs 804 per sq.ft in the 2017 revision. This represents a significant increase of 62% over the seven-year period. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2017 revision, the guideline value for Kalaimagal Nagar was Rs 804 per sq.ft. The absence of figures for the intervening years indicates that there were no recorded changes for this street during those periods.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value in this area is Rs 1,600 per sq.ft, placing the 2024 figure for Kalaimagal Nagar below that median.

• Kalaimagal Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Kalaimagal Nagar Extension: Rs 1,300 per sq.ft (2024)
• Kalaignar St, Lakshmipuram (Ward-25): Rs 1,300 per sq.ft (2024)
• Kalkotta Shop (Ward-13): Rs 1,600 per sq.ft (2024)
• Kalpalayam (Ward-29): Rs 1,300 per sq.ft (2024)
• Kadappah Road ( Ward No.25 ): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaimagal Nagar ( Ward No.26 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost together to Rs 1,17,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kalaimagal Nagar ( Ward No.26 )?

The Sub Registrar Office that covers Kalaimagal Nagar ( Ward No.26 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as the basis for calculating the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two figures is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kalaimagal Nagar ( Ward No.26 )?

The current guideline value of Kalaimagal Nagar ( Ward No.26 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,300 per sq.ft in 2024, marking a change of 62% over this period.

Are there any years with no recorded guideline value for this street?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Kalaimagal Nagar ( Ward No.26 ).

What is the median guideline value for streets in Madhavaram?

The median guideline value for streets in Madhavaram is Rs 1,600 per sq.ft, with Kalaimagal Nagar's 2024 figure being below this median.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.