Guideline Value for Kalidasan Street

Kalidasan Street guideline value

The current guideline value of Kalidasan Street, located in Kodungaiyur village under the Madhavaram SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Kalidasan Street has changed

Over the years, the guideline value of Kalidasan Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision and then rose to Rs 2,700 per sq.ft in the 2024 revision, marking an overall increase of 8% from 2012 to 2024.

From the 2023 to 2024 revision, there was an increase of 8%. The jump from the 2017 revision to the 2023 revision was substantial, with a 49% increase. It is important to note that the register has no figure for Kalidasan Street for the years 2002, 2003, and 2007.

Guideline values in Kodungaiyur

In Kodungaiyur, there are a total of 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Kalidasan Street.

• Kalidasan Street (Thiruvalluvar Nagar): Rs 2,700 per sq.ft (2024)
• Kalidasan Street (Vivekananda Nagar): 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration fee would be Rs 2,43,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kalidasan Street?

The Sub Registrar Office that covers Kalidasan Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more details, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Kodungaiyur. It serves as the minimum value for property transactions, ensuring that the sale price is not undervalued for tax purposes.

When a property is sold, the registration office uses the guideline value to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Kalidasan Street?

The current guideline value of Kalidasan Street 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 2023 to Rs 2,700 per sq.ft in 2024, representing an 8% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification of Kalidasan Street?

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

Where is the Madhavaram Sub Registrar Office located?

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

How is stamp duty calculated for properties in Kalidasan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.