Guideline Value for Kallamegam Road

Kallamegam Road guideline value

The current guideline value of Kallamegam Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This road is located in Mugappair village under the Konnur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Kallamegam Road has changed

The guideline value for Kallamegam Road has seen significant changes over the years. In 2002, the guideline value was Rs 566 per sq.ft, which increased to Rs 622 per sq.ft in 2003. Following this, there was a substantial rise to Rs 1,500 per sq.ft in 2007, and it further surged to Rs 8,000 per sq.ft in 2012. However, between 2012 and 2017, the value dropped to Rs 5,360 per sq.ft. The value then rose again to Rs 8,000 per sq.ft in 2023, before reaching the current figure of Rs 8,800 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. The rise from 2017 to 2023 was 49%, while there was a decrease of 33% from 2012 to 2017. The increase from 2007 to 2012 was an impressive 433%, and from 2003 to 2007, it rose by 141%. The value increased by 10% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1455%.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft, with a median value of Rs 7,100 per sq.ft. Kallamegam Road's 2024 figure of Rs 8,800 per sq.ft is above this median.

• Kamadhenu Chamber: Rs 7,100 per sq.ft (2024)
• Kamarajar Nagar: Rs 5,500 per sq.ft (2024)
• Kamarajar Street: Rs 3,800 per sq.ft (2024)
• Kamaraj nagar and 1 to 4 Cross Street: Rs 3,800 per sq.ft (2024)
• Kambar Salai: Rs 8,800 per sq.ft (2024)
• Jesvanth Nagar Part II: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kallamegam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that the stamp duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kallamegam Road?

The Sub Registrar Office that covers Kallamegam Road is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Mugappair, as it determines the stamp duty and registration fees applicable during the transaction. Buyers must consider the guideline value to ensure they are compliant with the regulations set by the Registration Department.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. 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 Kallamegam Road?

The current guideline value of Kallamegam Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the most recent increase being 10% from Rs 8,000 per sq.ft in 2023 to Rs 8,800 per sq.ft in 2024. Overall, from 2002 to 2024, the value has increased by 1455%.

What is the classification of Kallamegam Road?

Kallamegam Road is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Kallamegam Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 at 7%.