Guideline Value for Kalaimagal Street

Kalaimagal Street guideline value

The current guideline value of Kalaimagal Street in Kodungaiyur village is Rs 2,700 per sq.ft, effective from the 2024 revision. This street falls under the Madhavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Kalaimagal Street has changed

The guideline value for Kalaimagal Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, which represents an increase of 8% from the previous year's figure of Rs 2,500 per sq.ft established in 2023. Prior to that, the guideline value remained unchanged at Rs 2,500 per sq.ft since the 2012 revision.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2017 for this street. Therefore, the guideline value has seen an overall increase of 8% from the 2012 revision to the current 2024 figure.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Kalaimagal Street.

• Kalaimagal Salai (Kurinji Nagar): Rs 2,700 per sq.ft (2024)
• Kalaimagal Street (Teacher's colony): Rs 2,700 per sq.ft (2024)
• Kalamegam Street: Rs 2,700 per sq.ft (2024)
• Kalamegam Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Kalasathamman Street: Rs 2,700 per sq.ft (2024)
• Kakkan Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaimagal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to 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. Together, the total cost for stamp duty and registration fee would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaimagal Street?

The Sub Registrar Office that covers Kalaimagal Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, within the Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kodungaiyur. When you buy or sell property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that both the buyer and seller are aware of the financial obligations involved in the registration process.

Additionally, the guideline value helps maintain transparency in property transactions by providing a standardized basis for assessing property value. It is essential for buyers and sellers to be familiar with the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kalaimagal Street?

The current guideline value of Kalaimagal Street is Rs 2,700 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased by 8% from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024. The value has remained unchanged at Rs 2,500 per sq.ft since the 2012 revision.

What is the land classification for Kalaimagal Street?

Kalaimagal Street is classified as Residential Class I Type - I under the Madhavaram SRO.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office oversees the registration of properties in the area.

How is the stamp duty calculated for properties in Kodungaiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.