Guideline Value for Kalaimagal Nagar Part-II

Kalaimagal Nagar Part-II guideline value

The current guideline value of Kalaimagal Nagar Part-II is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Pazhanthandalam village and falls under the Padappai SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Kalaimagal Nagar Part-II has changed

In the 2017 revision, the guideline value was Rs 268 per sq.ft. It increased to Rs 400 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pazhanthandalam

In Pazhanthandalam, there are 57 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,980 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Kalaimagal Nagar Part-II's 2024 figure below that median.

• Kalaimagal Nagar Part - I: Rs 440 per sq.ft (2024)
• Kalaimagal Nagar and Extn 1 to 6: Rs 770 per sq.ft (2024)
• Kalaimagal Nagar: Rs 770 per sq.ft (2024)
• Kale II Presently as known as Dhara Avenue: Rs 1,210 per sq.ft (2024)
• Kale Layout: Rs 770 per sq.ft (2024)
• Kanniyammal Nagar Extn: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaimagal Nagar Part-II

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, making the total fees Rs 39,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalaimagal Nagar Part-II?

The Sub Registrar Office that covers Kalaimagal Nagar Part-II is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Pazhanthandalam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both parties must consider the guideline value, as it affects the overall cost of the transaction. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price, ensuring transparency in property dealings.

Frequently asked questions

What is the current guideline value of Kalaimagal Nagar Part-II?

The current guideline value of Kalaimagal Nagar Part-II is Rs 440 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2017 revision of Rs 268 per sq.ft to the 2024 revision of Rs 440 per sq.ft, the guideline value has increased by 64% overall.

What is the stamp duty rate for properties in Kalaimagal Nagar Part-II?

The stamp duty rate for properties in Kalaimagal Nagar Part-II is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for this area located?

The Sub Registrar Office for Kalaimagal Nagar Part-II is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

Are there other streets with different guideline values in Pazhanthandalam?

Yes, there are several other streets in Pazhanthandalam with varying guideline values, ranging from Rs 440 to Rs 1,980 per sq.ft as per the 2024 revision.