Guideline Value for Kalaimagal Nagar

Kalaimagal Nagar guideline value

The current guideline value of Kalaimagal Nagar, located in Pazhanthandalam village under the Padappai SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

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 figure is from 2012, where it was Rs 700 per sq.ft. In 2017, the value 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, a rise of 49%. The most recent revision in 2024 set the value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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, with a median value of Rs 1,100 per sq.ft. The guideline value of Kalaimagal Nagar is below this median.

• Kalaimagal Nagar and Extn 1 to 6: Rs 770 per sq.ft (2024)
• Kalaimagal Nagar Part - I: Rs 440 per sq.ft (2024)
• Kalaimagal Nagar Part-II: Rs 440 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

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees together to Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaimagal Nagar?

The Sub Registrar Office that covers Kalaimagal Nagar 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 plays a crucial role during the registration process of property transactions in Pazhanthandalam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Kalaimagal Nagar?

The current guideline value of Kalaimagal Nagar 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 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What are the other streets in Pazhanthandalam with their guideline values?

Other streets in Pazhanthandalam include Kalaimagal Nagar and Extn 1 to 6 at Rs 770 per sq.ft, Kalaimagal Nagar Part - I and Part-II at Rs 440 per sq.ft, and Kale II Presently as known as Dhara Avenue at Rs 1,210 per sq.ft.

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

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

Which office handles property registrations in Kalaimagal Nagar?

The Padappai Sub Registrar Office handles property registrations in Kalaimagal Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.