Guideline Value for Kalashetra Nagar

Kalashetra Nagar guideline value

The current guideline value of Kalashetra Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Palnalloor village, under the jurisdiction of the Sunguvarchattram SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Kalashetra Nagar has changed

In the 2012 revision, the guideline value was set at Rs 200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 134 per sq.ft, marking a -33% change. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision maintained this figure, resulting in a 0% change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen no change, remaining at Rs 200 per sq.ft.

Guideline values in Palnalloor

In Palnalloor, there are 34 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 175 to Rs 471 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which is equal to the 2024 figure for Kalashetra Nagar. Below are the guideline values for other streets in Palnalloor:

• Jemi Housing: Rs 200 per sq.ft (2024)
• Greenwood Garden: Rs 200 per sq.ft (2024)
• Gayathiri Nagar: Rs 200 per sq.ft (2024)
• Madurai Meenakshi Nagar: Rs 200 per sq.ft (2024)
• MahaGanapathy Street: Rs 250 per sq.ft (2024)
• Maruthi Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Kalashetra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is charged at 7%, resulting in Rs 14,000, while the registration fee at 2% amounts to Rs 4,000. Therefore, the total cost for stamp duty and registration fees together is Rs 18,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalashetra Nagar?

The Sub Registrar Office that covers Kalashetra Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during property registration in Palnalloor. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction. Buyers and sellers must be aware of the guideline value to ensure they comply with legal requirements during the registration process.

When a property is bought or sold, the guideline value is used to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from stamp duties and registration fees.

Frequently asked questions

What is the current guideline value of Kalashetra Nagar?

The current guideline value of Kalashetra Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revision in 2024 maintaining the value at Rs 200 per sq.ft. There was a decrease to Rs 134 per sq.ft in 2017, followed by an increase back to Rs 200 per sq.ft in 2023.

What is the land classification for Kalashetra Nagar?

Kalashetra Nagar is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Kalashetra Nagar?

The Sub Registrar Office for Kalashetra Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kalashetra Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,00,000, the stamp duty at 7% would be Rs 14,000.