Guideline Value for Kalki Nagar 3rd Street

Kalki Nagar 3rd Street guideline value

The current guideline value of Kalki Nagar 3rd 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 3rd Street has changed

The guideline value for Kalki Nagar 3rd Street has undergone several revisions over the years. The earliest recorded figure in the register is from 2012, which was Rs 4,000 per sq.ft. This value remained until the 2017 revision, where it dropped to Rs 2,680 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value significantly increased to Rs 4,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, 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 value for these streets is Rs 4,400 per sq.ft, which aligns with the 2024 guideline value of Kalki Nagar 3rd Street.

• Kalki Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Kalki Nagar 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be 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 cost to Rs 3,96,000. It is important to note that 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 3rd Street?

The Sub Registrar Office that covers Kalki Nagar 3rd 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 plays a crucial role during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate revenue from stamp duties and registration fees.

When buying or selling property, 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 impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kalki Nagar 3rd Street?

The current guideline value of Kalki Nagar 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the stamp duty rate for properties in Kalki Nagar 3rd Street?

The stamp duty rate for properties in Kalki Nagar 3rd Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Kalki Nagar 3rd Street located?

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

What is the classification of Kalki Nagar 3rd Street?

Kalki Nagar 3rd Street is classified as Residential Class II Type - II under the guideline value register.