Guideline Value for Kalaimathi Nagar 3rd Cross Street

Kalaimathi Nagar 3rd Cross Street guideline value

The current guideline value of Kalaimathi Nagar 3rd Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO, classified as Residential Class II Type - II.

How the guideline value of Kalaimathi Nagar 3rd Cross Street has changed

The guideline value for Kalaimathi Nagar 3rd Cross Street has seen several revisions over the years. The earliest available figure is from 2007, which was Rs 750 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, reflecting a growth of 233%. However, the value then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The next revision in 2023 brought the value up to Rs 2,500 per sq.ft, followed by the current rate of Rs 2,800 per sq.ft in 2024, marking a 12% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 273%.

Guideline values in Thalakanancherry

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

• Kalaimathi Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Kalaimathi Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Kalaimathi Nagar 1st 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 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty is charged at 7%, resulting in Rs 1,96,000, while the registration fee is 2%, which amounts to Rs 56,000. The total cost for stamp duty and registration fees together is Rs 2,52,000. 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 Kalaimathi Nagar 3rd Cross Street?

The Sub Registrar Office that covers Kalaimathi Nagar 3rd Cross 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 factor in the registration process of property transactions in Thalakanancherry. It serves as a benchmark for determining the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring transparency in the transaction process.

When a property is registered, the guideline value may influence the sale price, as it provides a standard reference point. This helps in maintaining uniformity in property transactions across the region, making it essential for both buyers and sellers to understand the guideline value applicable to their property.

Frequently asked questions

What is the current guideline value of Kalaimathi Nagar 3rd Cross Street?

The current guideline value of Kalaimathi Nagar 3rd Cross 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. Notably, it increased by 273% overall from 2007 to 2024.

What is the land classification for Kalaimathi Nagar 3rd Cross Street?

Kalaimathi Nagar 3rd Cross Street is classified as Residential Class II Type - II, indicating its use for residential purposes.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Thalakanancherry?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 at a rate of 7%.