Guideline Value for Kalaivani Nagar

Kalaivani Nagar guideline value

The current guideline value of Kalaivani Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Karanaithangal village under the Sunguvarchattram SRO, classified as Residential Class I Type - I.

How the guideline value of Kalaivani Nagar has changed

Over the years, the guideline value of Kalaivani Nagar has seen several revisions. The earliest recorded figure is from 2012, which was Rs 500 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease to Rs 335 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, returning to Rs 500 per sq.ft. The 2024 revision has maintained this value, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the guideline value has remained consistent at Rs 500 per sq.ft from 2012 to 2024, despite fluctuations in earlier years.

Guideline values in Karanaithangal

In Karanaithangal, there are 17 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 471 to Rs 1,000 per sq.ft. The guideline value of Kalaivani Nagar aligns with the median of Rs 500 per sq.ft for the area. Below are the guideline values for other streets in Karanaithangal:

• JanRathinam Nagar: Rs 600 per sq.ft (2024)
• Kullakkarai Street: Rs 500 per sq.ft (2024)
• Compact Homs-Atana: Rs 1,000 per sq.ft (2024)
• Compact Homes-Vasanthaa: Rs 1,000 per sq.ft (2024)
• Compact Homes-Megha: Rs 1,000 per sq.ft (2024)
• Compact Homes-Madhulika: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaivani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty charged at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. 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 Kalaivani Nagar?

The Sub Registrar Office covering Kalaivani Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of properties in Karanaithangal. It is the basis on which stamp duty and registration fees are calculated during the transaction process. Buyers and sellers must be aware of the current guideline value to ensure they are paying the correct fees when registering a property.

When a property is bought or sold, the guideline value is compared to the sale price. The higher of the two values is used to determine the stamp duty and registration fees, ensuring compliance with local regulations. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Kalaivani Nagar?

The current guideline value of Kalaivani Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft from 2012 to 2024, with fluctuations in earlier years, including a decrease to Rs 335 per sq.ft in 2017.

What are the stamp duty and registration fees for a property in Kalaivani Nagar?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000.

Which office handles property registrations in Kalaivani Nagar?

The Sunguvarchattram Sub Registrar Office is responsible for property registrations in Kalaivani Nagar, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu.

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It is compared to the sale price, and the higher value is used for fee calculations.