Guideline Value for Kalamegam Street

Kalamegam Street guideline value

The current guideline value of Kalamegam Street in Periyakuppam village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class III Type - I.

How the guideline value of Kalamegam Street has changed

The guideline value for Kalamegam Street has seen several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012, marking a 150% rise. However, the value decreased to Rs 335 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 raised the value to Rs 500 per sq.ft, and the latest revision in 2024 has further increased it to Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Periyakuppam

In Periyakuppam, there are 105 streets under the Tiruvallur Joint 1 SRO with a 2024 guideline value ranging from Rs 550 to Rs 3,300 per sq.ft. The median value is Rs 1,100 per sq.ft, which means Kalamegam Street's 2024 figure is below that median.

• Kalaivanar Street: Rs 1,100 per sq.ft (2024)
• Kamaraja Puram: Rs 1,320 per sq.ft (2024)
• Kabilar Street: Rs 550 per sq.ft (2024)
• Kamarajar Salai Main Road: Rs 1,650 per sq.ft (2024)
• Kamarajar Street: Rs 1,650 per sq.ft (2024)
• Jothi Ramalingam Street: Rs 1,100 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, resulting in a total of Rs 49,500. 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 Kalamegam Street?

The Sub Registrar Office that covers Kalamegam Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Periyakuppam, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration process will use the guideline value to calculate applicable fees.

When registering a property, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kalamegam Street?

The current guideline value of Kalamegam Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, marking an overall increase of 175% over the years.

What is the land classification of Kalamegam Street?

Kalamegam Street is classified as Residential Class III Type - I under the current guidelines.

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

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office handles registrations for Kalamegam Street?

The Tiruvallur Joint 1 Sub Registrar Office handles registrations for Kalamegam Street, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.