Guideline Value for Kalaivanar Street

Kalaivanar Street guideline value

The current guideline value of Kalaivanar Street 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 has changed

The guideline value for Kalaivanar Street has undergone several revisions over the years. In 2007, the value was set at Rs 400 per sq.ft, which saw a substantial increase to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. The value rose significantly to Rs 1,200 per sq.ft in 2023, and the most recent revision in 2024 has increased it further to Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 230%. Notably, there are no figures available for the years 2002 and 2003 in the register 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 value of Rs 1,650 per sq.ft. The guideline value of Kalaivanar Street is below this median.

• Kalaivanar Street Lane: Rs 1,320 per sq.ft (2024)
• Kalaivani 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees together Rs 1,18,800. Note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

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 Naravarikuppam

The guideline value plays a crucial role during the registration of property transactions in Naravarikuppam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded.

When buying or selling property, the guideline value helps in establishing a baseline for the property's worth, which is essential for legal and financial purposes. Buyers and sellers should be aware of these values to avoid disputes during the registration process.

Frequently asked questions

What is the current guideline value of Kalaivanar Street?

The current guideline value of Kalaivanar Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 400 per sq.ft to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 230% over this period.

What is the median guideline value in Naravarikuppam?

The median guideline value in Naravarikuppam is Rs 1,650 per sq.ft, which is above the current value of Kalaivanar Street.

What are the stamp duty rates for properties in Kalaivanar Street?

The stamp duty for properties in Kalaivanar Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kalaivanar Street located?

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