Guideline Value for Kalidasan Street

Kalidasan Street guideline value

The current guideline value of Kalidasan Street in Erukancherry village, under the Madhavaram SRO, is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - I.

How the guideline value of Kalidasan Street has changed

In the 2012 revision, the guideline value was Rs 2,300 per sq.ft. This figure decreased to Rs 1,541 per sq.ft in the 2017 revision, marking a decline of 33%. The value then saw a significant increase to Rs 2,300 per sq.ft in the 2023 revision, which was a rise of 49%. Finally, the current 2024 revision set the guideline value at Rs 2,500 per sq.ft, reflecting a 9% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Kalidasan Street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value is Rs 2,500 per sq.ft, which is the same as the current value for Kalidasan Street.

• Kalasattamman Koil Street: Rs 1,900 per sq.ft (2024)
• Kalamegam Street: Rs 2,500 per sq.ft (2024)
• Kakkanji Street: Rs 1,900 per sq.ft (2024)
• Kailasam Street: Rs 2,500 per sq.ft (2024)
• Kamaraj Lane: Rs 2,500 per sq.ft (2024)
• Kamaraj Nagar Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kalidasan Street

For a 1,000 sq.ft plot at the current rate of Rs 2,500 per sq.ft, the guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling Rs 2,25,000. The 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 more details.

Which Sub Registrar Office covers Kalidasan Street?

The Sub Registrar Office covering Kalidasan Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Erukancherry. It serves as a reference for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in question. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair price in relation to the official valuation.

Frequently asked questions

What is the current guideline value of Kalidasan Street?

The current guideline value of Kalidasan Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

From 2012 to 2024, the guideline value increased from Rs 2,300 to Rs 2,500 per sq.ft. There was a significant drop to Rs 1,541 per sq.ft in 2017, followed by a rise to Rs 2,300 per sq.ft in 2023.

What is the classification of Kalidasan Street?

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

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

The Sub Registrar Office for Kalidasan Street is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Kalidasan Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000.