Guideline Value for Kalathumettu Street

Kalathumettu Street guideline value

The current guideline value of Kalathumettu Street in Koozhangacheri village is Rs 200 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Class III Type - I.

How the guideline value of Kalathumettu Street has changed

Kalathumettu Street has seen several revisions in its guideline value over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value was reduced to Rs 134 per sq.ft, before increasing to Rs 200 per sq.ft again in the 2023 revision. The latest revision in 2024 has maintained this value at Rs 200 per sq.ft, showing no change from the previous year.

Between the revisions, there have been notable changes. From 2017 to 2023, there was a significant increase of 49%. The change from the 2012 to 2017 revision saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has remained the same, with no change recorded.

Guideline values in Koozhangacheri

Koozhangacheri village has a total of 47 streets under the Sunguvarchattram SRO that carry a 2024 guideline value. The values range from Rs 200 to Rs 1,200 per sq.ft, with the median value being Rs 226 per sq.ft. Kalathumettu Street's 2024 figure is below this median.

• Jayam Nagar Extention: Rs 350 per sq.ft (2024)
• Jayam Nagar: Rs 350 per sq.ft (2024)
• Golden Avenue: Rs 250 per sq.ft (2024)
• Lakshmi priya Nagar: Rs 200 per sq.ft (2024)
• Lenin Nagar: Rs 250 per sq.ft (2024)
• Ganesh Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Kalathumettu Street

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. 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 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 Koozhangacheri

The guideline value is a crucial factor when registering property transactions in Koozhangacheri. It serves as a baseline for determining the stamp duty and registration fees applicable to the property, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties. It is essential for buyers to understand that the stamp duty is charged on the higher of the guideline value or the sale price, which can impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Kalathumettu Street?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a notable drop to Rs 134 per sq.ft in 2017 before returning to Rs 200 per sq.ft in 2023 and remaining the same in 2024.

What is the land classification for Kalathumettu Street?

Kalathumettu Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty rates applicable in Koozhangacheri?

The stamp duty rate in Koozhangacheri is 7%, while the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kalathumettu Street?

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