Guideline Value for Kalaizhnar Street (colony)

Kalaizhnar Street (colony) guideline value

The current guideline value of Kalaizhnar Street (colony) is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Vattampakkam village under the Sunguvarchattram SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Kalaizhnar Street (colony) has changed

The guideline value for Kalaizhnar Street (colony) has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, in the 2017 revision, the value was previously Rs 134 per sq.ft, marking a significant increase of 49% from 2017 to 2023, where it again held steady at Rs 200 per sq.ft. The current 2024 revision has maintained the guideline value at Rs 200 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 regarding this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 200 per sq.ft.

Guideline values in Vattampakkam

In Vattampakkam, there are 33 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,790 per sq.ft. The median guideline value in this area is Rs 250 per sq.ft, indicating that the guideline value of Kalaizhnar Street (colony) is below this median.

• Keerthika Avenue: Rs 448 per sq.ft (2024)
• Indiras New Town: Rs 700 per sq.ft (2024)
• Lakshmi Nagar: Rs 448 per sq.ft (2024)
• Golden City: Rs 202 per sq.ft (2024)
• Gangaiamman Kovil Street (colony): Rs 200 per sq.ft (2024)
• Main Road: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaizhnar Street (colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaizhnar Street (colony)?

The Sub Registrar Office that covers Kalaizhnar Street (colony) is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Vattampakkam. It serves as a benchmark for determining the minimum value of a property, which is used for calculating stamp duty and registration fees. This ensures that transactions are recorded at a value that reflects the property’s worth according to the government’s assessment.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Kalaizhnar Street (colony)?

The current guideline value of Kalaizhnar Street (colony) is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a notable increase from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023. The value has not changed from 2023 to 2024.

What is the median guideline value in Vattampakkam?

The median guideline value in Vattampakkam is Rs 250 per sq.ft, indicating that Kalaizhnar Street (colony) is below this median value.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000. This is calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kalaizhnar Street (colony)?

The Sub Registrar Office for Kalaizhnar Street (colony) is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.