Guideline Value for Kalaimagal Nagar

Kalaimagal Nagar guideline value

The current guideline value of Kalaimagal Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Residential Class II 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 2007, where the value was Rs 400 per sq.ft. This increased to Rs 800 per sq.ft in 2012, but then decreased to Rs 536 per sq.ft in 2017. Following this, the value saw a significant rise to Rs 800 per sq.ft in 2023 and further increased to Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The change from 2012 to 2017 was a decrease of 33%. The overall increase from 2007 to 2024 amounts to 120%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Kalaimagal Nagar is below this median.

• Kakkan Road/Street: Rs 6,600 per sq.ft (2024)
• Kailasapuram 4th st: Rs 2,200 per sq.ft (2024)
• Kailasapuram 3rd St: Rs 2,200 per sq.ft (2024)
• Kailasapuram 2nd St: Rs 2,200 per sq.ft (2024)
• Kailasapuram 1st Street: Rs 2,200 per sq.ft (2024)
• Kalyan Nagar 1st: Rs 3,300 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, together totaling Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalaimagal Nagar?

Kalaimagal Nagar is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Tambaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property transaction occurs, the guideline value helps determine the official sale price for registration purposes. This ensures transparency and consistency in property transactions across the region.

Frequently asked questions

What is the current guideline value of Kalaimagal Nagar?

The current guideline value of Kalaimagal Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 120% over this period.

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

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers this area?

The Tambaram Joint 1 Sub Registrar Office covers Kalaimagal Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification of Kalaimagal Nagar?

Kalaimagal Nagar is classified as Residential Class II Type - II, indicating its suitability for residential development.