Guideline Value for Kalaimathi Nagar 1st Street

Kalaimathi Nagar 1st Street guideline value

The current guideline value of Kalaimathi Nagar 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village, under the Alandur SRO, and falls under the Residential Class II Type - II land classification.

How the guideline value of Kalaimathi Nagar 1st Street has changed

The guideline value for Kalaimathi Nagar 1st Street has seen several revisions over the years. In 2007, the guideline value was Rs 750 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it then decreased to Rs 1,675 per sq.ft in 2017. The value rose again to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,800 per sq.ft as of the 2024 revision.

Between the revisions, the changes were notable. From 2007 to 2012, there was a substantial increase of 233%. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, followed by a 12% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 273%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing the guideline value of Kalaimathi Nagar 1st Street below this median.

• Kalaimathi Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Kalaimathi Nagar 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Kalaimathi Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Kalaimathi Nagar Main: Rs 2,800 per sq.ft (2024)
• Kamarajar Road: Rs 2,800 per sq.ft (2024)
• Kamaraj Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaimathi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost for these fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kalaimathi Nagar 1st Street?

The Sub Registrar Office that covers Kalaimathi Nagar 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial figure used during the registration of property transactions in Thalakanancherry. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the higher amount between the guideline value and the actual sale price is considered for calculating the stamp duty. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Kalaimathi Nagar 1st Street?

The current guideline value of Kalaimathi Nagar 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, with several revisions in between, including a decrease from 2012 to 2017.

What is the median guideline value for streets in Thalakanancherry?

The median guideline value for streets in Thalakanancherry is Rs 3,900 per sq.ft, with Kalaimathi Nagar 1st Street's value being below this median.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Kalaimathi Nagar 1st Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Kalaimathi Nagar 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.