Guideline Value for Kalasathamman Street

Kalasathamman Street guideline value

The current guideline value of Kalasathamman Street in Kodungaiyur village, under the Madhavaram SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Kalasathamman Street has changed

The guideline value for Kalasathamman Street has undergone several revisions over the years. In the 2012 revision, the value was Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase to Rs 2,500 per sq.ft in the 2023 revision, and further rose to the current rate of Rs 2,700 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

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 8%.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, which is equal to the current guideline value of Kalasathamman Street.

• Kalamegam Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Kalamegam Street: Rs 2,700 per sq.ft (2024)
• Kalidasan Street: Rs 2,700 per sq.ft (2024)
• Kalidasan Street (Thiruvalluvar Nagar): Rs 2,700 per sq.ft (2024)
• Kalidasan Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Kalaimagal Street (Teacher's colony): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kalasathamman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

To calculate your stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalasathamman Street?

The Sub Registrar Office that covers Kalasathamman Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, please visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Kalasathamman Street?

The current guideline value of Kalasathamman Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Kalasathamman Street?

Kalasathamman Street is classified as Residential Class I Type - I.

Where can I find the Madhavaram Sub Registrar Office?

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

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a plot of 1,000 sq.ft at the current guideline value, the stamp duty would be Rs 1,89,000.