Guideline Value for Kalaingar Street

Kalaingar Street guideline value

The current guideline value of Kalaingar Street in Ramapuram village is Rs 3,100 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and 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. The 2012 revision set the value at Rs 2,800 per sq.ft, which was later reduced to Rs 1,876 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,800 per sq.ft, before the latest revision in 2024 raised it to Rs 3,100 per sq.ft.

In terms of percentage changes, the guideline value increased by 11% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value is Rs 3,100 per sq.ft, which is equal to the guideline value of Kalaingar Street.

• Kalaiselvam Street: Rs 2,750 per sq.ft (2024)
• Kaliappa Udayar Street: Rs 2,750 per sq.ft (2024)
• Kalidasan Street: Rs 3,100 per sq.ft (2024)
• Kaliyappa Naicker Street: Rs 4,400 per sq.ft (2024)
• Kalsathamman Koil Street: Rs 2,750 per sq.ft (2024)
• Kalyani Ponnappan Avenue: Rs 3,550 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 3,100 per sq.ft, the total guideline value would be Rs 31,00,000. The stamp duty at 7% would amount to Rs 2,17,000, and the registration fee at 2% would be Rs 62,000. Together, these fees would total Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information on fees applicable to property transactions.

Which Sub Registrar Office covers Kalaingar Street?

Kalaingar Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Ramapuram. It is used to determine the stamp duty and registration fees that are payable when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in a property transaction, it is essential to be aware of the current guideline value as it directly impacts the overall cost of registration. Buyers and sellers should ensure they are informed about the latest revisions to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kalaingar Street?

The current guideline value of Kalaingar Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What is the land classification of Kalaingar Street?

Kalaingar Street is classified as Residential Class II Type - I under the Chennai South Joint II SRO.

What are the other streets in Ramapuram and their guideline values?

Other streets in Ramapuram include Kalaiselvam Street, Kaliappa Udayar Street, Kalidasan Street, Kaliyappa Naicker Street, Kalsathamman Koil Street, and Kalyani Ponnappan Avenue, with values ranging from Rs 2,750 to Rs 4,400 per sq.ft in 2024.

Where can I find the Sub Registrar Office for Kalaingar Street?

The Sub Registrar Office covering Kalaingar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.