Guideline Value for Kalaimagal Street

Kalaimagal Street guideline value

The current guideline value of Kalaimagal Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Kalaimagal Street has changed

Over the years, the guideline value of Kalaimagal Street has seen significant changes. In the 2003 revision, the value was Rs 486 per sq.ft. This figure increased to Rs 800 per sq.ft in 2007, marking a rise of 65%. The 2012 revision maintained the value at Rs 3,000 per sq.ft, which was a substantial increase of 275% from the previous revision. However, in 2017, the value dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, before reaching the current value of Rs 3,300 per sq.ft in 2024, a 10% increase.

There is no guideline value available for Kalaimagal Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 579%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current value of Kalaimagal Street.

• Kalaigner Nagar: Rs 2,750 per sq.ft (2024)
• Kalaignar Street: Rs 2,750 per sq.ft (2024)
• Kakkilanchavadi: Rs 2,750 per sq.ft (2024)
• Kabilar Street: Rs 3,300 per sq.ft (2024)
• Kabaleswaran Nagar: Rs 3,300 per sq.ft (2024)
• Juleka Street: Rs 2,160 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that 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?

Kalaimagal Street falls under the Pallavaram Sub Registrar Office located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives adequate revenue through stamp duty and registration fees.

When buying or selling property, both parties must consider the guideline value, as it impacts the financial obligations related to the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Kalaimagal Street?

The current guideline value of Kalaimagal Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2003, the guideline value has increased significantly, from Rs 486 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 579%.

What are the stamp duty rates applicable for properties in Kalaimagal Street?

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

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the median guideline value in Zaminpallavaram?

The median guideline value in Zaminpallavaram is Rs 3,300 per sq.ft, which is the same as the current guideline value for Kalaimagal Street.