Guideline Value for Kalaingar street

Kalaingar street guideline value

The current guideline value of Kalaingar street in Poonthamallee village, under the Poonamallee SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Kalaingar street has changed

The guideline value for Kalaingar street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. Following this, the value rose sharply to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024, representing a 10% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with the 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Kalaingar street.

• Kalaimagal nagar: Rs 2,200 per sq.ft (2024)
• Judge chellappa road: Rs 2,740 per sq.ft (2024)
• Kandaswamy nagar: Rs 2,200 per sq.ft (2024)
• Kandaswamy nagar exten: Rs 2,200 per sq.ft (2024)
• Kannampulli chetti street north: Rs 2,200 per sq.ft (2024)
• Kannampulli chetti street south: Rs 2,200 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price. 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 Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Poonthamallee. It serves as a benchmark for determining the minimum value of a property during registration, ensuring that both buyers and sellers are aware of the official valuation set by the authorities.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures transparency and compliance with local regulations during the property buying and selling process.

Frequently asked questions

What is the current guideline value of Kalaingar street?

The current guideline value of Kalaingar street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 450% over the years.

What are the stamp duty and registration fees for properties in Kalaingar street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Kalaingar street?

The Poonamallee Sub Registrar Office handles property registrations for Kalaingar street, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value of a property for registration purposes and helps calculate the applicable stamp duty and registration fees during a property transaction.