Guideline Value for Kalamegam Street

Kalamegam Street guideline value

The current guideline value of Kalamegam Street in Erukancherry village is Rs 2,500 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Kalamegam Street has changed

Looking at the historical revisions, the guideline value for Kalamegam Street was Rs 2,300 per sq.ft in 2023, which increased to Rs 2,500 per sq.ft in 2024, marking a change of +9%. Prior to that, in 2017, the value was Rs 1,541 per sq.ft, which saw a significant increase of +49% to reach Rs 2,300 per sq.ft in 2023. The 2012 revision had a guideline value of Rs 2,300 per sq.ft, which was a decrease of -33% from Rs 1,541 per sq.ft in 2017.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +9%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value is Rs 2,500 per sq.ft, which is equal to the current guideline value of Kalamegam Street.

• Kalasattamman Koil Street: Rs 1,900 per sq.ft (2024)
• Kalidasan Street: Rs 2,500 per sq.ft (2024)
• Kakkanji Street: Rs 1,900 per sq.ft (2024)
• Kailasam Street: Rs 2,500 per sq.ft (2024)
• Kamaraj Lane: Rs 2,500 per sq.ft (2024)
• Kamaraj Nagar Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kalamegam Street

For a 1,000 sq.ft plot at the current rate of Rs 2,500 per sq.ft, the guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling Rs 2,25,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalamegam Street?

The Madhavaram Sub Registrar Office covers Kalamegam Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Kalamegam Street?

The current guideline value of Kalamegam Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent increase of +9% from Rs 2,300 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024.

What is the land classification of Kalamegam Street?

Kalamegam Street is classified as Residential Class III Type - I under the Madhavaram SRO.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

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

Stamp duty for properties in Kalamegam Street is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 25,00,000 would incur a stamp duty of Rs 1,75,000 at 7%.