Guideline Value for Kalaivani Street

Kalaivani Street guideline value

The current guideline value of Kalaivani 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 Kalaivani Street has changed

The guideline value for Kalaivani Street has seen several revisions over the years. In 2002, the value was Rs 3,082 per sq.ft, which dropped significantly to Rs 314 per sq.ft in 2003, marking a decrease of 90%. The value then increased to Rs 400 per sq.ft in 2007, representing a 27% rise. Following this, the 2012 revision set the value at Rs 1,200 per sq.ft, a substantial increase of 200% from the previous figure. However, in 2017, the value decreased to Rs 804 per sq.ft, a decline of 33%. The 2023 revision brought the value back up to Rs 1,200 per sq.ft, and the most recent 2024 revision has set it at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

Throughout these revisions, there have been no figures recorded for the years not mentioned. The overall change from 2002 to 2024 shows a decrease of 57% in the guideline value.

Guideline values in Naravarikuppam

Naravarikuppam has a total of 112 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, positioning Kalaivani Street's 2024 figure below that median.

• Kalaivanar Street Lane: 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 Kalaivani Street

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, totaling 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaivani Street?

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

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

The guideline value is a crucial factor during property registration in Naravarikuppam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration fees and stamp duties are calculated appropriately based on this value.

When buying or selling property, the guideline value helps in establishing a clear understanding of the financial obligations involved in the transaction. This ensures that both buyers and sellers are aware of the costs associated with the registration process.

Frequently asked questions

What is the current guideline value of Kalaivani Street?

The current guideline value of Kalaivani Street 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 3,082 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, showing a decrease of 57% overall.

What is the median guideline value in Naravarikuppam?

The median guideline value in Naravarikuppam is Rs 1,650 per sq.ft, with Kalaivani Street's 2024 figure being below this median.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 92,400 and the registration fee is Rs 26,400, totaling Rs 1,18,800.

Where is the Sub Registrar Office for Kalaivani Street located?

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