Guideline Value for Kalidasar Street

Kalidasar Street guideline value

The current guideline value of Kalidasar Street in Chembakkam village is Rs 950 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class IV Type - I.

How the guideline value of Kalidasar Street has changed

The guideline value for Kalidasar Street has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 750 per sq.ft. This value increased to Rs 900 per sq.ft in 2012, then decreased to Rs 603 per sq.ft in 2017. Following this, the value rose significantly to Rs 900 per sq.ft in 2023, and finally to Rs 950 per sq.ft in 2024, marking a 6% increase from the previous year.

Between the revisions, there were notable changes. From 2017 to 2023, the guideline value increased by 49%. The drop from 2012 to 2017 was 33%, while the increase from 2007 to 2012 was 20%. Overall, from 2007 to 2024, the guideline value has increased by 27%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. Kalidasar Street's 2024 figure is below this median.

• Kalathumedu Street: Rs 1,600 per sq.ft (2024)
• Kalamegam Street: Rs 950 per sq.ft (2024)
• Kamarajapuram Main Road: Rs 3,800 per sq.ft (2024)
• Kanagaraja Street: Rs 950 per sq.ft (2024)
• Jegajeevanram Street: Rs 1,600 per sq.ft (2024)
• K.A.P. Viswanathan Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kalidasar Street

For a 1,000 sq.ft plot at the current rate of Rs 950 per sq.ft, the guideline value would be Rs 9,50,000. The stamp duty at 7% would amount to Rs 66,500, and the registration fee at 2% would be Rs 19,000, totaling Rs 85,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalidasar Street?

The Sub Registrar Office that covers Kalidasar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Chembakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during transactions.

When a property is sold or purchased, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Kalidasar Street?

The current guideline value of Kalidasar Street is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 950 per sq.ft in 2024, with various revisions in between. The most significant increase occurred from 2017 to 2023, where it rose by 49%.

What are the guideline values of other streets in Chembakkam?

Other streets in Chembakkam have varying guideline values, with Kalathumedu Street at Rs 1,600 per sq.ft, Kalamegam Street and Kanagaraja Street both at Rs 950 per sq.ft, and Kamarajapuram Main Road at Rs 3,800 per sq.ft.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Kalidasar Street?

Stamp duty for properties in Kalidasar Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 9,50,000, the stamp duty would be Rs 66,500 at a rate of 7%.