Guideline Value for Kalamegam Street

Kalamegam Street guideline value

The current guideline value of Kalamegam Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the jurisdiction of the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kalamegam Street has changed

The guideline value for Kalamegam Street has undergone several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 257%. However, the value decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The 2023 revision saw the value rise again to Rs 2,500 per sq.ft, and as of 2024, it stands at Rs 2,700 per sq.ft, representing an 8% increase from the previous year.

There are no figures available for Kalamegam Street in the revisions for 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 286%.

Guideline values in Kolathur

In Kolathur village, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Kalamegam Street's 2024 guideline value is below this median.

• Kalainger Karunanithi Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Kalainger Karunanithi Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Kalainger Karunanithi Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Kalaimagal Nagar: Rs 2,700 per sq.ft (2024)
• Kaithe Millath Street: Rs 2,700 per sq.ft (2024)
• Kadappa Road: 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 at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kalamegam Street?

The Sembiam Sub Registrar Office covers Kalamegam Street, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When engaging in a property transaction, it is essential to understand that the guideline value is used to calculate the applicable duties. Buyers and sellers should ensure they are aware of the current guideline value to avoid any discrepancies during the registration process.

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 changed from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 286% over the years.

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

Several other streets in Kolathur also have a guideline value of Rs 2,700 per sq.ft for 2024, including Kalainger Karunanithi Nagar 1st, 2nd, and 3rd Streets, Kalaimagal Nagar, Kaithe Millath Street, and Kadappa Road.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated on properties in Kalamegam Street?

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