Guideline Value for Kalamegam Street

Kalamegam Street guideline value

The current guideline value of Kalamegam Street in Chembakkam village is Rs 950 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class IV Type - I.

How the guideline value of Kalamegam Street has changed

Kalamegam Street has undergone several revisions in its guideline value over the years. The earliest recorded revision is from 2007, which set the value at Rs 250 per sq.ft. This was followed by a significant increase to Rs 900 per sq.ft in 2012, a decrease to Rs 603 per sq.ft in 2017, and then a rise to Rs 900 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 950 per sq.ft, marking a 6% increase from the previous year.

In summary, the changes between revisions show a 260% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 6% increase from 2023 to 2024. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Kalamegam Street is below this median.

• Kalathumedu Street: Rs 1,600 per sq.ft (2024)
• Kalidasar Street: Rs 950 per sq.ft (2024)
• Kamarajapuram Main Road: Rs 3,800 per sq.ft (2024)
• Kanagaraja Street: Rs 950 per sq.ft (2024)
• Jegajeevanram Street: Rs 1,600 per sq.ft (2024)
• K.A.P. Viswanathan Street: Rs 2,400 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 950 per sq.ft, the total guideline value amounts to Rs 9,50,000. The stamp duty is charged at 7%, which is Rs 66,500, and the registration fee is 2%, amounting to Rs 19,000. Together, the total cost for stamp duty and registration fee would be Rs 85,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Chembakkam. It serves as the minimum value on which stamp duty is calculated, ensuring that the government receives the appropriate taxes based on the property's worth as determined by the guideline value.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that they are informed about 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 950 per sq.ft, effective from 1 July 2024.

How has the guideline value of Kalamegam Street changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 950 per sq.ft in 2024, showing an overall increase of 280% over the years.

What is the stamp duty rate for properties in Kalamegam Street?

The stamp duty rate for properties in Kalamegam Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kalamegam Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What are the guideline values of other streets in Chembakkam?

Other streets in Chembakkam have varying guideline values, with Kalathumedu Street at Rs 1,600 per sq.ft, Kalidasar Street and Kanagaraja Street both at Rs 950 per sq.ft, Kamarajapuram Main Road at Rs 3,800 per sq.ft, Jegajeevanram Street at Rs 1,600 per sq.ft, and K.A.P. Viswanathan Street at Rs 2,400 per sq.ft.