Guideline Value for Kalaimagal Street

Kalaimagal Street guideline value

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

How the guideline value of Kalaimagal Street has changed

The guideline value for Kalaimagal Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in 2017. The value then saw a significant increase to Rs 1,200 per sq.ft in 2023, and it has now risen to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, which indicates that the guideline value for Kalaimagal Street is below this median.

• Kalaignar Street: Rs 1,300 per sq.ft (2024)
• Kalaignar Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Kalaignar Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Kalaignar Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Kalaignar Nagar: Rs 1,300 per sq.ft (2024)
• Kakkanji Street: Rs 1,300 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the 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 Street?

The Sub Registrar Office that covers Kalaimagal Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Madambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees. Buyers must pay these fees based on the higher of the guideline value or the actual sale price, ensuring compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Kalaimagal Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Kalaimagal Street?

For a 1,000 sq.ft plot at the guideline value of Rs 1,300 per sq.ft, the total guideline value is Rs 13,00,000. The stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Kalaimagal Street?

The Selaiyur Sub Registrar Office covers Kalaimagal Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the land classification of Kalaimagal Street?

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