Guideline Value for Kalpaga Nagar

Kalpaga Nagar guideline value

The current guideline value of Kalpaga Nagar in Padiyanallur village is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Residential Special Type - I.

How the guideline value of Kalpaga Nagar has changed

The guideline value for Kalpaga Nagar has undergone several revisions over the years. In 2003, the value was Rs 90 per sq.ft, which increased to Rs 300 per sq.ft in 2007. A significant jump occurred in 2012, bringing the value to Rs 1,200 per sq.ft, but it then decreased to Rs 804 per sq.ft in 2017. The value rose again to Rs 1,200 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 1,320 per sq.ft. The register has no figure for this street in 2002.

Between these revisions, notable changes include a 233% increase from 2003 to 2007, a 300% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a 49% increase from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 1,367% from 2003 to 2024.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft, with a median value of Rs 770 per sq.ft. Kalpaga Nagar's 2024 figure is above this median.

• Kalanchinathan Street: Rs 660 per sq.ft (2024)
• Kalaivanar Street: Rs 770 per sq.ft (2024)
• Kamarajar Nagar (Bhavani Nagar): Rs 660 per sq.ft (2024)
• Kamarajar Nagar Periya Road: Rs 385 per sq.ft (2024)
• Kamarajar Street (M.A.Nagar): Rs 770 per sq.ft (2024)
• Kakkanji 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the 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 Kalpaga Nagar?

The Sub Registrar Office that covers 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 more information.

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

The guideline value plays a crucial role during property transactions in Padiyanallur. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Kalpaga Nagar?

The current guideline value of Kalpaga Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 90 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 1,367%.

What is the land classification for Kalpaga Nagar?

Kalpaga Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Kalpaga Nagar?

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

How is stamp duty calculated in Kalpaga Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,20,000, the stamp duty at 7% would be Rs 92,400.