Guideline Value for Kalaingar 1st Street

Kalaingar 1st Street guideline value

The current guideline value of Kalaingar 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kalaingar 1st Street has changed

The guideline value for Kalaingar 1st Street has seen several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. The value increased significantly by 49% to Rs 2,500 per sq.ft in 2023, and then rose by 10% to the current rate of Rs 2,750 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The changes from the previous revisions indicate fluctuations in the guideline value, with notable increases in the most recent years.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, placing Kalaingar 1st Street's 2024 figure below this median.

• Kalaingar Street: Rs 2,750 per sq.ft (2024)
• KAIKKANKUPPAM - V.O.C.Street: Rs 3,300 per sq.ft (2024)
• KAIKKANKUPPAM - Thiruvalluvar Salai S.No 118: Rs 3,850 per sq.ft (2024)
• KAIKKANKUPPAM - Sai Amirdha Avenue: Rs 3,300 per sq.ft (2024)
• KAIKKANKUPPAM - Pillaiyar Koil Street: Rs 3,300 per sq.ft (2024)
• KAIKKANKUPPAM - Gangaiamman koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaingar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalaingar 1st Street?

The Sub Registrar Office that covers Kalaingar 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. Buyers should be aware that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Kalaingar 1st Street?

The current guideline value of Kalaingar 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Kalaingar 1st Street?

Kalaingar 1st Street is classified as Residential Class IV Type - I.

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

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% applies.