Guideline Value for Kaliappa Udayar Street

Kaliappa Udayar Street guideline value

The current guideline value of Kaliappa Udayar Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kaliappa Udayar Street has changed

The guideline value for Kaliappa Udayar Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase in the following revisions, rising to Rs 2,500 per sq.ft in 2023 and then to Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, placing the 2024 guideline value of Kaliappa Udayar Street below this median.

• Kalidasan Street: Rs 3,100 per sq.ft (2024)
• Kaliyappa Naicker Street: Rs 4,400 per sq.ft (2024)
• Kalsathamman Koil Street: Rs 2,750 per sq.ft (2024)
• Kalaiselvam Street: Rs 2,750 per sq.ft (2024)
• Kalaingar Street: Rs 3,100 per sq.ft (2024)
• Kalyani Ponnappan Avenue: Rs 3,550 per sq.ft (2024)

Stamp duty and registration fee for property in Kaliappa Udayar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. 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 further calculations.

Which Sub Registrar Office covers Kaliappa Udayar Street?

Kaliappa Udayar Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in calculating the total costs associated with the transaction. It is crucial for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kaliappa Udayar Street?

The current guideline value of Kaliappa Udayar Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Kaliappa Udayar Street?

The land classification for Kaliappa Udayar Street is Residential Class II Type - II.

Where can I find the Sub Registrar Office for Kaliappa Udayar Street?

The Sub Registrar Office covering Kaliappa Udayar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the guideline value used for stamp duty calculations?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. Duty is charged on the higher of the guideline value or the sale price, ensuring that the correct fees are applied.