Guideline Value for Kalaimagal Nagar

Kalaimagal Nagar guideline value

The current guideline value of Kalaimagal Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Kalaimagal Nagar has changed

The guideline value of Kalaimagal Nagar has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 145 per sq.ft. This increased to Rs 230 per sq.ft in 2003, marking a 59% change. The value continued to rise significantly, reaching Rs 700 per sq.ft in 2007, which was a 204% increase from the previous revision. In 2012, the guideline value was Rs 2,500 per sq.ft, reflecting a 257% increase from 2007. However, it dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the value increased to Rs 2,500 per sq.ft, which was a notable rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, representing an 8% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,762%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Kalaimagal Nagar is below this median.

• Kalainger Karunanithi Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Kalainger Karunanithi Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Kalainger Karunanithi Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Kalamegam Street: Rs 2,700 per sq.ft (2024)
• Kaithe Millath Street: Rs 2,700 per sq.ft (2024)
• Kadappa Road: Rs 2,700 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. 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?

The Sub Registrar Office that covers Kalaimagal Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a critical factor during the registration process of property transactions in Kolathur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It serves as a reference point to ensure transparency in the transaction and to avoid undervaluation or overvaluation of properties.

Frequently asked questions

What is the current guideline value of Kalaimagal Nagar?

The current guideline value of Kalaimagal Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 145 per sq.ft to Rs 2,700 per sq.ft in 2024, marking an overall increase of 1,762%.

What are the other streets in Kolathur with the same guideline value?

Several other streets in Kolathur have the same guideline value of Rs 2,700 per sq.ft, including Kalainger Karunanithi Nagar 1st, 2nd, and 3rd Streets, Kalamegam Street, Kaithe Millath Street, and Kadappa Road.

What are the fees associated with property registration in Kalaimagal Nagar?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value. For example, for a property valued at Rs 27,00,000, the total fees would be Rs 2,43,000.

Where can I find the Sub Registrar Office for Kalaimagal Nagar?

The Sembiam Sub Registrar Office covers Kalaimagal Nagar and is located at 5, Papermills Road, Sembiam, Chennai - 600011.