Guideline Value for Kalasathamman Koil Street

Kalasathamman Koil Street guideline value

The current guideline value of Kalasathamman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Kalasathamman Koil Street has changed

Over the years, the guideline value for Kalasathamman Koil Street has seen several revisions. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase of 10% from the 2023 revision of Rs 2,000 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 1,340 per sq.ft, which was a significant increase of 49% from the 2012 revision of Rs 1,800 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 26% in the guideline value. Overall, from 2012 to 2024, the guideline value has increased by 22%, reflecting the changes in the area over the years.

Guideline values in Selavoyal

Selavoyal village has a total of 170 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Kalasathamman Koil Street.

• Kalasathamman Koil Street Extension: Rs 3,300 per sq.ft (2024)
• Jai Balaji Nagar Extension: Rs 1,900 per sq.ft (2024)
• Jai Balaji Nagar 5th Street: Rs 1,900 per sq.ft (2024)
• Jai Balaji Nagar 4th Street: Rs 1,900 per sq.ft (2024)
• Jai Balaji Nagar 3rd Street: Rs 1,900 per sq.ft (2024)
• Jai Balaji Nagar 2nd Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kalasathamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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 Kalasathamman Koil Street?

The Sub Registrar Office that covers Kalasathamman Koil Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Selavoyal. It determines the minimum value at which a property can be registered and affects the stamp duty and registration fees payable at the time of the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and transparently. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kalasathamman Koil Street?

The current guideline value of Kalasathamman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting a 22% increase overall. The most significant change occurred between 2017 and 2023, with a 49% increase from Rs 1,340 to Rs 2,000 per sq.ft.

What is the classification of Kalasathamman Koil Street?

Kalasathamman Koil Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How do stamp duty and registration fees work?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000.