Guideline Value for Kalamegam Street

Kalamegam Street guideline value

The current guideline value of Kalamegam Street in Kodungaiyur village under the Madhavaram SRO is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Kalamegam Street has changed

The guideline value for Kalamegam Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, which is an increase of 8% from the 2023 revision of Rs 2,500 per sq.ft. The 2012 revision also recorded a value of Rs 2,500 per sq.ft, indicating no change from 2012 to 2023.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2017. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are a total of 1,318 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for the village is Rs 2,700 per sq.ft, which is equal to the current value of Kalamegam Street.

• Kalamegam Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Kalasathamman Street: Rs 2,700 per sq.ft (2024)
• Kalidasan Street: Rs 2,700 per sq.ft (2024)
• Kalidasan Street (Thiruvalluvar Nagar): Rs 2,700 per sq.ft (2024)
• Kalidasan Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Kalaimagal Street (Teacher's colony): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kalamegam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty, calculated at 7%, amounts to Rs 1,89,000, while the registration fee at 2% is Rs 54,000. Together, these fees total Rs 2,43,000. 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 fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalamegam Street?

The Sub Registrar Office that covers Kalamegam Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kalamegam Street?

The current guideline value of Kalamegam Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase. There has been no change from the 2012 revision to the 2023 revision.

What are the other streets with the same guideline value in Kodungaiyur?

Other streets in Kodungaiyur with a guideline value of Rs 2,700 per sq.ft include Kalasathamman Street, Kalidasan Street, and Kalaimagal Street, among others.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.

How is the stamp duty calculated for properties in Kalamegam Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.