Guideline Value for Kalaivanar Street Lane

Kalaivanar Street Lane guideline value

The current guideline value of Kalaivanar Street Lane in Naravarikuppam village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Kalaivanar Street Lane has changed

Over the years, the guideline value for Kalaivanar Street Lane has seen several revisions. The earliest recorded value is from 2007 at Rs 400 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, this value decreased to Rs 804 per sq.ft in 2017. The 2023 revision marked a rise to Rs 1,200 per sq.ft, followed by the current value of Rs 1,320 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%, and from 2012 to 2017, there was a decrease of 33%. Notably, the increase from 2007 to 2012 was substantial at 200%. Overall, from 2007 to 2024, the guideline value has increased by 230%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median of Rs 1,650 per sq.ft. The guideline value for Kalaivanar Street Lane is below this median.

• Kalaivani Street: Rs 1,320 per sq.ft (2024)
• Kalaivanar Street: Rs 1,320 per sq.ft (2024)
• Kaalvai Street: Rs 1,320 per sq.ft (2024)
• Kamaraj Nagar: Rs 2,200 per sq.ft (2024)
• Jeevarathinam Street: Rs 1,320 per sq.ft (2024)
• Jeevanandam Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaivanar Street Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees Rs 1,18,800. It is important to 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 Kalaivanar Street Lane?

The Sub Registrar Office that covers Kalaivanar Street Lane is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Naravarikuppam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value as it influences the overall costs associated with property transactions. Ensuring that the sale price meets or exceeds the guideline value is necessary for a smooth registration process.

Frequently asked questions

What is the current guideline value of Kalaivanar Street Lane?

The current guideline value of Kalaivanar Street Lane is Rs 1,320 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 1,320 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,20,000, the stamp duty is Rs 92,400 and the registration fee is Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations for Kalaivanar Street Lane?

The Redhills Sub Registrar Office handles property registrations for Kalaivanar Street Lane, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

The guideline value is used to determine the minimum registration value of a property, which affects the calculation of stamp duty and registration fees during property transactions.