Guideline Value for Kalaingar Street

Kalaingar Street guideline value

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

How the guideline value of Kalaingar Street has changed

The guideline value for Kalaingar Street has seen several revisions over the years. In 2002, the value was Rs 429 per sq.ft, which increased to Rs 467 per sq.ft in 2003, marking a change of +9%. The value then rose significantly to Rs 650 per sq.ft in 2007, reflecting a +39% increase. Following this, in 2012, the guideline value changed to Rs 2,500 per sq.ft, which was a decrease of -33%. In 2017, it increased to Rs 1,675 per sq.ft, showing a +49% change from the previous revision. The 2023 revision set the value at Rs 2,500 per sq.ft, and the latest revision in 2024 has raised it to Rs 2,750 per sq.ft, which is a +10% increase.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +541%.

Guideline values in Valasaravakkam

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

• Kalaingar 1st 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaingar Street?

Kalaingar Street is covered by 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 plays a crucial role during the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When a buyer or seller engages in a transaction, the guideline value is referenced to ensure that the appropriate taxes are calculated based on the higher of either the guideline value or the actual sale price. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kalaingar Street?

The current guideline value of Kalaingar 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 429 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting a significant increase of +541% over the years.

What is the classification of land on Kalaingar Street?

Kalaingar Street is classified as Residential Class IV Type - I, indicating its primary use for residential purposes.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Kalaingar Street?

The Virugambakkam Sub Registrar Office handles registrations for Kalaingar Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.