Guideline Value for Kaliamman Koil Street

Kaliamman Koil Street guideline value

The current guideline value of Kaliamman Koil Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Chenchery village and falls under the Virugambakkam SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Kaliamman Koil Street has changed

Over the years, the guideline value of Kaliamman Koil Street has seen significant changes. The 2007 revision set the value at Rs 2,500 per sq.ft, which increased to Rs 7,000 per sq.ft in 2012. However, between 2012 and 2017, there was a decrease of 33%, bringing the value down to Rs 4,690 per sq.ft. The value then rose sharply to Rs 7,000 per sq.ft in 2023, marking a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 7,700 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Kaliamman Koil Street. Overall, from 2007 to 2024, the guideline value has increased by 208%.

Guideline values in Chenchery

In Chenchery, there are 44 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 7,700 per sq.ft. The median guideline value in this village is Rs 4,400 per sq.ft, placing Kaliamman Koil Street's 2024 figure above that median.

• Durairajan Salai: Rs 4,950 per sq.ft (2024)
• CHINAMAYA NAGAR STAGE 2 - Vaikasi Street: Rs 4,950 per sq.ft (2024)
• CHINAMAYA NAGAR STAGE 2 - Ponguni Street: Rs 4,950 per sq.ft (2024)
• CHINAMAYA NAGAR STAGE 2 - Nerkundram Road: Rs 4,950 per sq.ft (2024)
• CHINAMAYA NAGAR STAGE 2 - Maasi Street: Rs 4,950 per sq.ft (2024)
• CHINAMAYA NAGAR STAGE 2 - Chithirai Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Kaliamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000. Together, the total cost for stamp duty and registration fee would be 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaliamman Koil Street?

Kaliamman Koil Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chenchery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers should be aware that the stamp duty is calculated based on the higher value between the guideline value and the actual sale price.

When registering property, it is essential to ensure that the guideline value is accurately reflected in the documentation to avoid any disputes or complications. This ensures compliance with local regulations and facilitates a smooth transaction process.

Frequently asked questions

What is the current guideline value of Kaliamman Koil Street?

The current guideline value of Kaliamman Koil 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 2,500 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, representing an overall increase of 208% over the years.

What is the land classification for Kaliamman Koil Street?

The land classification for Kaliamman Koil Street is Commercial Special Type - I, indicating its use for commercial purposes.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 6,93,000.

Which office handles the registration for Kaliamman Koil Street?

The Virugambakkam Sub Registrar Office handles the registration for Kaliamman Koil Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.