Guideline Value for Kalaivanar Street

Kalaivanar Street guideline value

The current guideline value of Kalaivanar Street in Grandlyon village, under the Redhills SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Kalaivanar Street has changed

The guideline value for Kalaivanar Street has undergone several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, it then decreased to Rs 402 per sq.ft in 2017. The value saw a significant rise to Rs 600 per sq.ft in 2023, and it has now increased by 10% to Rs 660 per sq.ft in the 2024 revision.

Between the revisions, the changes were notable. From 2007 to 2012, the value increased by 100%, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 120%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft. The median guideline value is Rs 660 per sq.ft, which is equal to the 2024 figure for Kalaivanar Street.

• Kalikambal Nagar: Rs 440 per sq.ft (2024)
• Kamarajar Street: Rs 660 per sq.ft (2024)
• Jh Nagar: Rs 800 per sq.ft (2024)
• Kanaga Durga Nagar: Rs 440 per sq.ft (2024)
• Kandasamy Nagar: Rs 880 per sq.ft (2024)
• Jamuna Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaivanar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that 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?

The Sub Registrar Office that covers Kalaivanar Street 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 Grandlyon

The guideline value is a crucial factor in the registration process of property transactions in Grandlyon. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Kalaivanar Street?

The current guideline value of Kalaivanar Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Kalaivanar Street?

Kalaivanar Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Kalaivanar Street?

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

How is stamp duty calculated for properties in Grandlyon?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 6,60,000, the stamp duty would be calculated accordingly.