Guideline Value for Kalaivani Street

Kalaivani Street guideline value

The current guideline value of Kalaivani Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of Kalaivani Street has changed

The guideline value for Kalaivani Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, which is an increase of 10% from the 2023 figure of Rs 1,500 per sq.ft. Prior to 2023, the register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline values for the revisions available are as follows: Rs 1,500 per sq.ft in 2023 and Rs 1,650 per sq.ft in 2024. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 in the register for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Kalaivani Street is below this median.

• Kalaivanar Street: Rs 3,850 per sq.ft (2024)
• Kalaimagal Street: Rs 2,750 per sq.ft (2024)
• Kalaimagal Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Kalaimagal Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Kalaimagal Nagar: Rs 2,750 per sq.ft (2024)
• Kalaimagal Cross Street: Rs 2,750 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when buying or selling property in Madipakkam-1, as it determines the amount of stamp duty and registration fees payable at the time of registration. Buyers and sellers must refer to the current guideline value to ensure compliance with the legal requirements during the transaction.

When a property is registered, the guideline value serves as a benchmark for assessing the property's worth, influencing the financial obligations associated with the purchase or sale. It is essential for all parties involved to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kalaivani Street?

The current guideline value of Kalaivani Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed in recent years?

The guideline value increased from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, marking a 10% rise. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

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

For a property measuring 1,000 sq.ft at the guideline value of Rs 1,650 per sq.ft, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office handles registrations for Kalaivani Street?

The Velacheri Sub Registrar Office handles registrations for Kalaivani Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Kalaivani Street?

Kalaivani Street is classified as Residential Class II Type - II under the current guidelines.