Guideline Value for Kalaimathi Nagar Main

Kalaimathi Nagar Main guideline value

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

How the guideline value of Kalaimathi Nagar Main has changed

The guideline value for Kalaimathi Nagar Main has undergone several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 750 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, but then decreased to Rs 1,675 per sq.ft in 2017. The value rose sharply to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,800 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 12% from 2023 to 2024, and by 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017, and a remarkable increase of 233% from 2007 to 2012. 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 village, 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 Main is below this median.

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

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 at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total charges together 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 Main?

The Sub Registrar Office that covers Kalaimathi Nagar Main 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 plays a crucial role during the registration process when buying or selling property in Thalakanancherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are based on the official valuation of the property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This means that understanding the guideline value is essential for both buyers and sellers to accurately assess the financial implications of a property transaction.

Frequently asked questions

What is the current guideline value of Kalaimathi Nagar Main?

The current guideline value of Kalaimathi Nagar Main 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 various revisions in between, including Rs 2,500 in 2012 and Rs 1,675 in 2017.

What is the land classification of Kalaimathi Nagar Main?

Kalaimathi Nagar Main is classified as Residential Class II Type - II, indicating its designation for residential use.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Kalaimathi Nagar Main?

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