Guideline Value for Kalpaga Nagar

Kalpaga Nagar guideline value

The current guideline value of Kalpaga Nagar, located in Nallur village under the Redhills SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Kalpaga Nagar has changed

The guideline value for Kalpaga Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 247 per sq.ft, which dropped to Rs 25 per sq.ft in 2003. Following this, there was a significant increase to Rs 200 per sq.ft in 2007, and then a substantial rise to Rs 700 per sq.ft in 2012. However, the value decreased by 33% to Rs 469 per sq.ft in 2017. The most recent revisions show an increase to Rs 700 per sq.ft in 2023, and finally, the current value of Rs 770 per sq.ft from the 2024 revision represents a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 212%. The register has no figure for the years not specifically mentioned for this street.

Guideline values in Nallur

In Nallur village, there are 39 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,650 per sq.ft, with a median value of Rs 550 per sq.ft. Kalpaga Nagar's 2024 guideline value of Rs 770 per sq.ft is above this median.

• Kalpaga Nagar - 1: Rs 770 per sq.ft (2024)
• Kannanoorambakkam 1st Cross Street: Rs 770 per sq.ft (2024)
• Kannanoorambakkam 2nd Cross Street: Rs 770 per sq.ft (2024)
• Kannanoorambakkam 3rd Cross Street: Rs 770 per sq.ft (2024)
• Kannanoorammal Koil 1st Street: Rs 770 per sq.ft (2024)
• Kannanoorammal Koil 2nd Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Kalpaga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalpaga Nagar?

The Sub Registrar Office covering Kalpaga Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Nallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the process. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements.

When a property is bought or sold, the registration office uses the guideline value to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the correct amount of duty is paid based on the established value of the property.

Frequently asked questions

What is the current guideline value of Kalpaga Nagar?

The current guideline value of Kalpaga Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 247 per sq.ft in 2002 to Rs 770 per sq.ft in 2024, showing an overall increase of 212% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 7,70,000. The stamp duty is Rs 53,900, and the registration fee is Rs 15,400, totaling Rs 69,300.

Which office handles property registrations for Kalpaga Nagar?

The Redhills Sub Registrar Office handles property registrations for Kalpaga Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Kalpaga Nagar?

Kalpaga Nagar is classified as Residential Class I Type - I, indicating its designation for residential use.