Guideline Value for Kalaimagal Nagar Extension

Kalaimagal Nagar Extension guideline value

The current guideline value of Kalaimagal Nagar Extension 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 Extension has changed

The guideline value for Kalaimagal Nagar Extension has undergone several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft. Following this, the 2024 revision increased the guideline value to Rs 1,300 per sq.ft, marking a significant change of +62% from the previous revision.

There are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street, indicating that the guideline value remained unchanged during those years.

Guideline values in Madhavaram

In Madhavaram, there are 1946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing the 2024 figure for Kalaimagal Nagar Extension below this median.

• Kalaimagal Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Kalaimagal Nagar (Ward No.26): 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 Extension

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, while the registration fee at 2% would be Rs 26,000, leading to a total of Rs 1,17,000. 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 details.

Which Sub Registrar Office covers Kalaimagal Nagar Extension?

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

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

The guideline value is a crucial factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are levied. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kalaimagal Nagar Extension?

The current guideline value of Kalaimagal Nagar Extension is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since the last revision?

The guideline value increased from Rs 804 per sq.ft in the 2017 revision to Rs 1,300 per sq.ft in the 2024 revision, which is a change of +62%.

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

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Kalaimagal Nagar Extension.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, which is higher than the current value of Kalaimagal Nagar Extension.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.