Guideline Value for Kalkotta Shop (Ward-13)

Kalkotta Shop (Ward-13) guideline value

The current guideline value of Kalkotta Shop (Ward-13) is Rs 1,600 per sq.ft, effective from 1 July 2024. It is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Kalkotta Shop (Ward-13) has changed

The guideline value for Kalkotta Shop (Ward-13) has undergone several revisions over the years. In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent revision in 2024 saw a significant increase to Rs 1,600 per sq.ft, representing a 59% rise from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 7%. It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 for this street in the register.

Guideline values in Madhavaram

Madhavaram village has a range of guideline values across its 1946 streets, with the 2024 figures varying from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in the village is Rs 1,600 per sq.ft, which is the same as the current value for Kalkotta Shop (Ward-13).

• Kalpalayam (Ward-29): Rs 1,300 per sq.ft (2024)
• Kalaimagal Nagar (Ward No.26): Rs 1,300 per sq.ft (2024)
• Kalaimagal Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Kalaimagal Nagar Extension: Rs 1,300 per sq.ft (2024)
• Kamaraj 1st Cross st (Ward No.23): Rs 1,600 per sq.ft (2024)
• Kamaraj 2nd Cross st (Ward No.23): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kalkotta Shop (Ward-13)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalkotta Shop (Ward-13)?

The Sub Registrar Office that covers Kalkotta Shop (Ward-13) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When selling property, the guideline value ensures that the transaction is recorded accurately and fairly in the official register. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kalkotta Shop (Ward-13)?

The current guideline value of Kalkotta Shop (Ward-13) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,600 per sq.ft in 2024. There are no figures available for the years 2023, 2007, 2003, and 2002 for this street.

What is the land classification of Kalkotta Shop (Ward-13)?

Kalkotta Shop (Ward-13) is classified as Residential Class II Type - I according to the guideline value register.

What is the stamp duty rate for properties in Madhavaram?

The stamp duty rate for properties in Madhavaram is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can also find more details online.