Guideline Value for Kalaimagal Nagar and Extn 1 to 6

Kalaimagal Nagar and Extn 1 to 6 guideline value

The current guideline value for Kalaimagal Nagar and Extn 1 to 6 is Rs 770 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 area is Residential Special Type - II.

How the guideline value of Kalaimagal Nagar and Extn 1 to 6 has changed

The guideline value for this area has seen several revisions over the years. The oldest available figure is from 2012, where the value was Rs 700 per sq.ft. In 2017, it decreased to Rs 469 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 700 per sq.ft, reflecting a change of 49%. The latest revision in 2024 has set the guideline value at Rs 770 per sq.ft, which is a 10% increase from the previous year.

There are no available figures for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pazhanthandalam

Pazhanthandalam village has a total of 57 streets under the Padappai SRO, with guideline values ranging from Rs 440 to Rs 1,980 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing the current figure for Kalaimagal Nagar and Extn 1 to 6 below that median.

• Kalaimagal Nagar Part - I: Rs 440 per sq.ft (2024)
• Kalaimagal Nagar Part-II: Rs 440 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 and Extn 1 to 6

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. 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 Kalaimagal Nagar and Extn 1 to 6?

The Sub Registrar Office that covers Kalaimagal Nagar and Extn 1 to 6 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 additional information.

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

The guideline value plays a crucial role during the registration of property transactions in Pazhanthandalam. It serves as a benchmark for determining 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, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs for completing the transaction. Buyers should be aware of the guideline value to ensure compliance with local regulations and avoid any potential legal issues.

Frequently asked questions

What is the current guideline value for Kalaimagal Nagar and Extn 1 to 6?

The current guideline value for Kalaimagal Nagar and Extn 1 to 6 is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 770 per sq.ft in 2024, with significant changes in between, including a decrease to Rs 469 per sq.ft in 2017 and an increase to Rs 700 per sq.ft in 2023.

What is the land classification for this area?

The land classification for Kalaimagal Nagar and Extn 1 to 6 is Residential Special Type - II, indicating its designated use for residential purposes.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For a property valued at Rs 7,70,000, the total fees would be Rs 69,300.

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

The Padappai Sub Registrar Office covers Kalaimagal Nagar and Extn 1 to 6, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.