Guideline Value for Kalaimagal Nagar

Kalaimagal Nagar guideline value

The current guideline value of Kalaimagal Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024. This area is located in Mangadu-B village and falls under the Kunrathur SRO. The land classification for this street is Residential Special Type - III.

How the guideline value of Kalaimagal Nagar has changed

The guideline value for Kalaimagal Nagar has undergone several revisions over the years. The earliest recorded revision was in 2017, where the value stood at Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has set the guideline value at Rs 2,000 per sq.ft, reflecting an increase of 11% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 66%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu-B

Mangadu-B village has a total of 70 streets under the Kunrathur SRO with 2024 guideline values ranging from Rs 1,430 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, placing Kalaimagal Nagar's 2024 figure above this median.

• Jeeva Nagar: Rs 1,550 per sq.ft (2024)
• Charles Nagar: Rs 1,750 per sq.ft (2024)
• O.A.Royal Nagar: Rs 3,960 per sq.ft (2024)
• Addison Nagar Annex: Rs 1,750 per sq.ft (2024)
• Addison Nagar: Rs 1,750 per sq.ft (2024)
• Sri Balaji Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaimagal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty, charged at 7%, would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, making the total fees Rs 1,80,000. 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 information.

Which Sub Registrar Office covers Kalaimagal Nagar?

The Sub Registrar Office covering Kalaimagal Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mangadu-B

The guideline value is a crucial aspect when it comes to the registration of property in Mangadu-B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers need to be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kalaimagal Nagar?

The current guideline value of Kalaimagal Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2024, marking a total increase of 66% over these years.

What are the stamp duty and registration fees for properties in Kalaimagal Nagar?

For a property valued at Rs 20,00,000, the stamp duty would amount to Rs 1,40,000 and the registration fee would be Rs 40,000, totaling Rs 1,80,000.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the significance of the guideline value in property transactions?

The guideline value is important as it is used to calculate the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded accurately and complies with legal requirements.