Guideline Value for Kalathumettu Street

Kalathumettu Street guideline value

The current guideline value of Kalathumettu Street in Periyapanancheri village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Pammal SRO and is classified as Residential Class II Type - I.

How the guideline value of Kalathumettu Street has changed

The guideline value for Kalathumettu Street has undergone several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision. The most recent 2024 revision shows a further increase to Rs 1,320 per sq.ft, marking a 10% rise from the previous year. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. This significant change reflects a 49% increase from 2017 to 2023, followed by the 10% increase from 2023 to 2024.

Guideline values in Periyapanancheri

In Periyapanancheri, there are 33 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 990 to Rs 4,925 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, which is the same as the guideline value for Kalathumettu Street.

• J.S. Tower: Rs 2,200 per sq.ft (2024)
• Kannamal Street: Rs 1,320 per sq.ft (2024)
• Karunakaran Street: Rs 1,320 per sq.ft (2024)
• Indira Nagar (ward 2): Rs 990 per sq.ft (2024)
• G.T.Krishnan Avenue Annexe: Rs 1,650 per sq.ft (2024)
• Kundrathur Main Road: Rs 4,925 per sq.ft (2024)

Stamp duty and registration fee for property in Kalathumettu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalathumettu Street?

The Sub Registrar Office that covers Kalathumettu Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Periyapanancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted transparently and fairly.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain a standard valuation across the region and assists in the collection of revenue for the government.

Frequently asked questions

What is the current guideline value of Kalathumettu Street?

The current guideline value of Kalathumettu Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the stamp duty and registration fees for property in Kalathumettu Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800. The duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Kalathumettu Street?

The Pammal Sub Registrar Office is responsible for registrations in Kalathumettu Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Kalathumettu Street?

Kalathumettu Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.