Guideline Value for Kalaingar Street

Kalaingar Street guideline value

The current guideline value of Kalaingar Street in Tharamani village, under the Adayar SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Kalaingar Street has changed

The guideline value for Kalaingar Street has undergone several revisions over the years. In 2002, the value was Rs 159 per sq.ft, which increased to Rs 300 per sq.ft in 2003, marking an increase of 89%. The value then rose significantly to Rs 1,000 per sq.ft in 2007, reflecting a 233% increase. In 2012, the guideline value was Rs 2,500 per sq.ft, which represented a 150% increase from the previous revision. However, it decreased by 33% to Rs 1,675 per sq.ft in 2017. The value then saw a substantial increase of 49% to Rs 2,500 per sq.ft in 2023, and finally, it rose by 12% to the current figure of Rs 2,800 per sq.ft in 2024.

Throughout these revisions, the overall increase from 2002 to 2024 stands at an impressive 1,661%. Notably, the register has no figures for the years not mentioned in this timeline.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, which is equal to the guideline value of Kalaingar Street.

• Kamarajar Street: Rs 2,800 per sq.ft (2024)
• Kambar Street: Rs 2,800 per sq.ft (2024)
• Janda Street: Rs 2,800 per sq.ft (2024)
• Karumariamman koil Street: Rs 2,200 per sq.ft (2024)
• Indira Gandhi Street: Rs 2,800 per sq.ft (2024)
• Govindu Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaingar 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 at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaingar Street?

The Sub Registrar Office that covers Kalaingar Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process. It serves as a benchmark for determining the applicable stamp duty and registration fees when buying or selling property in Tharamani. Buyers and sellers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is documented at a fair value, which is essential for legal and tax purposes. It is advisable for buyers to check the current guideline values to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Kalaingar Street?

The current guideline value of Kalaingar 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 significantly from Rs 159 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, representing an overall increase of 1,661%.

Which Sub Registrar Office covers Kalaingar Street?

The Adayar Sub Registrar Office covers Kalaingar Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What are the stamp duty and registration fees for property in Kalaingar Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 28,00,000. The stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It acts as a benchmark for ensuring that the property is registered at a fair value, which is important for legal and tax purposes.