Guideline Value for Kalaingar street

Kalaingar street guideline value

The current guideline value of Kalaingar street in Kadaperi village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 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 seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the latest 2024 revision raised it further to Rs 1,100 per sq.ft. Notably, the register has no figures for the revisions in 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%, while the 2023 to 2024 revision reflects a 10% increase. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 7,700 per sq.ft. The median value of these streets is Rs 1,650 per sq.ft, positioning Kalaingar street's 2024 figure below this median.

• kalangal Street: Rs 880 per sq.ft (2024)
• Kalyana Sundaram Street: Rs 1,320 per sq.ft (2024)
• Kamachi Nagar 1-st St: Rs 2,750 per sq.ft (2024)
• Kamachi Nagar 2-nd St: Rs 2,750 per sq.ft (2024)
• Kamachi Nagar 3rd Cross St: Rs 2,750 per sq.ft (2024)
• Kadhar Bhasha St: Rs 2,750 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. 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 details.

Which Sub Registrar Office covers Kalaingar street?

The Sub Registrar Office that covers Kalaingar street is 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 further assistance.

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

The guideline value is a crucial factor in property transactions in Kadaperi, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with legal requirements.

Buyers and sellers must be aware that the guideline value may differ from the actual sale price. The registration process will charge duty based on the higher of these two amounts, which is essential for accurate financial planning during property transactions.

Frequently asked questions

What is the current guideline value of Kalaingar street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles registrations for Kalaingar street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Kalaingar street, located at No.26, mes Road, East Tambaram, Chennai-600059.

What is the land classification for Kalaingar street?

Kalaingar street is classified as Residential Class II Type - I, indicating its suitability for residential development.