Guideline Value for Kalaingar Street

Kalaingar Street guideline value

The current guideline value of Kalaingar Street in Vengambakkam village is Rs 440 per sq.ft, effective from the 2024 revision. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Kalaingar Street has changed

Over the years, the guideline value of Kalaingar Street has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 268 per sq.ft. Following this, the value increased significantly to Rs 400 per sq.ft in 2023, before rising again to Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO with the 2024 guideline values ranging from Rs 440 to Rs 5,000 per sq.ft. The median guideline value in this area is Rs 770 per sq.ft, indicating that Kalaingar Street's 2024 figure is below this median.

• Kakanji Street: Rs 440 per sq.ft (2024)
• Jayapaul Street: Rs 550 per sq.ft (2024)
• Jagajeevan Ram Street: Rs 550 per sq.ft (2024)
• Kavina Garden: Rs 3,300 per sq.ft (2024)
• Indira Gandhi Street: Rs 440 per sq.ft (2024)
• Indira Gandhi Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaingar Street

For a 1,000 sq.ft plot on Kalaingar Street at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, leading to a total of Rs 39,600 for these charges. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaingar Street?

Kalaingar Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Vengambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately in the official registry, reflecting the true value of the property.

Frequently asked questions

What is the current guideline value of Kalaingar Street?

The current guideline value of Kalaingar Street is Rs 440 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the median guideline value in Vengambakkam?

The median guideline value in Vengambakkam is Rs 770 per sq.ft, which is higher than the current guideline value of Kalaingar Street.

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

For a 1,000 sq.ft plot on Kalaingar Street, the total guideline value is Rs 4,40,000. The stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles the registration for Kalaingar Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Kalaingar Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.