Guideline Value for Kalki Nagar

Kalki Nagar guideline value

The current guideline value of Kalki Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Velachery village and falls under the Velacheri SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Kalki Nagar has changed

The guideline value for Kalki Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was revised to Rs 4,000 per sq.ft, and then increased by 10% to Rs 4,400 per sq.ft in the 2024 revision.

There are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

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 for these streets is Rs 4,400 per sq.ft, which is the same as that of Kalki Nagar.

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

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 amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees together to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalki Nagar?

The Sub Registrar Office that covers Kalki Nagar 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 critical factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kalki Nagar?

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

How has the guideline value changed over the years?

The guideline value for Kalki Nagar has increased from Rs 4,000 per sq.ft in 2012 to Rs 4,400 per sq.ft in 2024, marking a 10% increase overall. The 2023 revision also saw a 10% increase from the previous year.

What are the stamp duty and registration fees for property in Kalki Nagar?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,96,000, based on the current guideline value.

Which Sub Registrar Office covers Kalki Nagar?

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

What is the land classification for Kalki Nagar?

The land classification for Kalki Nagar is Residential Class II Type - II, indicating its suitability for residential development.