Guideline Value for Kalainger Karunanithi Nagar 2nd Street

Kalainger Karunanithi Nagar 2nd Street guideline value

The current guideline value of Kalainger Karunanithi Nagar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kalainger Karunanithi Nagar 2nd Street has changed

Over the years, the guideline value of Kalainger Karunanithi Nagar 2nd Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,000 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012, marking a 150% rise. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then rose sharply to Rs 2,500 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The most recent revision in 2024 has brought the guideline value to Rs 2,700 per sq.ft, an 8% increase from 2023.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 170%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Kalainger Karunanithi Nagar 2nd Street is below this median.

• Kalainger Karunanithi Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Kalainger Karunanithi Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Kalaimagal Nagar: Rs 2,700 per sq.ft (2024)
• Kalamegam Street: Rs 2,700 per sq.ft (2024)
• Kaithe Millath Street: Rs 2,700 per sq.ft (2024)
• Kadappa Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kalainger Karunanithi Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalainger Karunanithi Nagar 2nd Street?

The Sub Registrar Office covering Kalainger Karunanithi Nagar 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Kolathur. It is the minimum value set by the government for property transactions, and it is used to calculate stamp duty and registration fees, which are mandatory when buying or selling property.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is taken into account for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kalainger Karunanithi Nagar 2nd Street?

The current guideline value of Kalainger Karunanithi Nagar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, which is an overall increase of 170%.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 2,43,000.

Which Sub Registrar Office covers this area?

The Sembiam Sub Registrar Office covers Kalainger Karunanithi Nagar 2nd Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Kalainger Karunanithi Nagar 2nd Street?

The land classification for Kalainger Karunanithi Nagar 2nd Street is Residential Class II Type - I.