Guideline Value for Kalidasan Street (Vivekananda Nagar)

Kalidasan Street (Vivekananda Nagar) guideline value

The current guideline value of Kalidasan Street (Vivekananda Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kalidasan Street (Vivekananda Nagar) has changed

Over the years, the guideline value for Kalidasan Street (Vivekananda Nagar) has seen several revisions. The 2012 revision recorded a guideline value of Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in the 2017 revision. Following that, the guideline value increased significantly to Rs 2,500 per sq.ft in 2023, and then to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a slight increase of 8%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which aligns with the current value of Kalidasan Street (Vivekananda Nagar).

• Kalidasan Street (Thiruvalluvar Nagar): Rs 2,700 per sq.ft (2024)
• Kalidasan Street: Rs 2,700 per sq.ft (2024)
• Kalasathamman Street: Rs 2,700 per sq.ft (2024)
• Kalamegam Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Kalamegam Street: Rs 2,700 per sq.ft (2024)
• Kalaimagal Street (Teacher's colony): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kalidasan Street (Vivekananda Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, leading to a total of Rs 2,43,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Kalidasan Street (Vivekananda Nagar)?

The Madhavaram Sub Registrar Office covers Kalidasan Street (Vivekananda Nagar). The address is No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kalidasan Street (Vivekananda Nagar)?

The current guideline value of Kalidasan Street (Vivekananda Nagar) is Rs 2,700 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 2,700 per sq.ft in 2024.

What is the land classification of Kalidasan Street (Vivekananda Nagar)?

Kalidasan Street (Vivekananda Nagar) is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for a property on this street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers this street?

The Madhavaram Sub Registrar Office covers Kalidasan Street (Vivekananda Nagar), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.