Guideline Value for Kaliamman Koil 1st Street

Kaliamman Koil 1st Street guideline value

The current guideline value of Kaliamman Koil 1st Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kaliamman Koil 1st Street has changed

The guideline value for Kaliamman Koil 1st Street has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012. However, it then saw a decrease to Rs 4,690 per sq.ft in 2017. The value rose again to Rs 7,000 per sq.ft in 2023, and the latest revision in 2024 set the guideline value at Rs 7,700 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Between the revisions, the changes were substantial. From 2007 to 2012, the value increased by 367%, but then it dropped by 33% from 2012 to 2017. The value surged by 49% from 2017 to 2023, and the most recent increase from 2023 to 2024 is 10%. Overall, from 2007 to 2024, the guideline value has risen by 413%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Kaliamman Koil 1st Street below that median.

• Kaliamman Koil 2nd Street: Rs 7,700 per sq.ft (2024)
• Kaliamman Koil 3rd Street: Rs 7,700 per sq.ft (2024)
• Kaliamman Koil Street: Rs 7,700 per sq.ft (2024)
• Kamala Street: Rs 7,700 per sq.ft (2024)
• Kamarajapuram 1st Street: Rs 6,000 per sq.ft (2024)
• Kamarajapuram 2nd Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kaliamman Koil 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kaliamman Koil 1st Street?

The Sub Registrar Office that covers Kaliamman Koil 1st Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for additional information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nungambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kaliamman Koil 1st Street?

The current guideline value of Kaliamman Koil 1st Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,500 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 413% over the years.

What are the other streets with similar guideline values in Nungambakkam?

Other streets in Nungambakkam with the same guideline value of Rs 7,700 per sq.ft include Kaliamman Koil 2nd Street, Kaliamman Koil 3rd Street, Kaliamman Koil Street, and Kamala Street.

What fees are associated with buying property in Kaliamman Koil 1st Street?

When buying property, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 77,00,000, the total fees would amount to Rs 6,93,000.

Where can I find the Sub Registrar Office for Kaliamman Koil 1st Street?

The Sub Registrar Office for Kaliamman Koil 1st Street is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.