Guideline Value for Kalanchinathan Street

Kalanchinathan Street guideline value

The current guideline value of Kalanchinathan Street in Padiyanallur village is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Kalanchinathan Street has changed

The guideline value for Kalanchinathan Street has undergone several revisions over the years. In 2003, the value was set at Rs 74 per sq.ft, and it increased significantly to Rs 300 per sq.ft in 2007, marking a rise of 305%. The value then saw a 100% increase to Rs 600 per sq.ft in 2012, but it dropped by 33% to Rs 402 per sq.ft in 2017. The value rose again to Rs 600 per sq.ft in 2023, followed by a 10% increase to the current Rs 660 per sq.ft in 2024.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 792%.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with 2024 guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, which means Kalanchinathan Street's current value is below this median.

• Kalaivanar Street: Rs 770 per sq.ft (2024)
• Kalpaga Nagar: Rs 1,320 per sq.ft (2024)
• Kakkanji Street: Rs 770 per sq.ft (2024)
• Kamarajar Nagar (Bhavani Nagar): Rs 660 per sq.ft (2024)
• Kamarajar Nagar Periya Road: Rs 385 per sq.ft (2024)
• Kaavya Garden Annex: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kalanchinathan Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalanchinathan Street?

The Sub Registrar Office that covers Kalanchinathan Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Padiyanallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Kalanchinathan Street?

The current guideline value of Kalanchinathan Street is Rs 660 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 74 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, representing an overall increase of 792% over the years.

What is the median guideline value of streets in Padiyanallur?

The median guideline value for streets in Padiyanallur is Rs 770 per sq.ft, which is higher than the current value of Kalanchinathan Street.

What are the stamp duty and registration fees for properties in Kalanchinathan Street?

For a 1,000 sq.ft property, the total stamp duty and registration fees would amount to Rs 59,400 based on the current guideline value of Rs 6,60,000.

Which office handles registrations for Kalanchinathan Street?

The Redhills Sub Registrar Office handles registrations for Kalanchinathan Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.