Guideline Value for Kalki Nagar 2nd Street

Kalki Nagar 2nd Street guideline value

The current guideline value of Kalki Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kalki Nagar 2nd Street has changed

The guideline value for Kalki Nagar 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision increased this value to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is the same as the current value for Kalki Nagar 2nd Street.

• Kalki Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Kalki Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Kalki Nagar: Rs 4,400 per sq.ft (2024)
• Kalki Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Kamarajapuram: Rs 5,500 per sq.ft (2024)
• Kamarajapuram (100 Ft. Bye-Pass Road): Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kalki Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalki Nagar 2nd Street?

The Sub Registrar Office that covers Kalki Nagar 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Velachery. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is compared against the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are fairly assessed according to the prevailing guidelines.

Frequently asked questions

What is the current guideline value of Kalki Nagar 2nd Street?

The current guideline value of Kalki Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased by 10%, from Rs 4,000 per sq.ft to Rs 4,400 per sq.ft.

What is the land classification for Kalki Nagar 2nd Street?

Kalki Nagar 2nd Street is classified as Residential Class II Type - II, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Kalki Nagar 2nd Street?

The Sub Registrar Office for Kalki Nagar 2nd Street is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Velachery?

The stamp duty for properties in Velachery is calculated based on the higher of the guideline value or the sale price. This ensures that the correct amount is paid during the registration process.