Guideline Value for Kalpalayam (Ward-29)

Kalpalayam (Ward-29) guideline value

The current guideline value of Kalpalayam (Ward-29) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - I.

How the guideline value of Kalpalayam (Ward-29) has changed

In the 2017 revision, the guideline value was set at Rs 804 per sq.ft. This figure represented a significant increase to Rs 1,300 per sq.ft in the 2024 revision, marking an increase of 62%. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

From 2017 to 2024, the guideline value experienced a substantial rise, reflecting changes in the real estate landscape. The current rate of Rs 1,300 per sq.ft is in contrast to the earlier figure of Rs 804 per sq.ft from 2017.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Kalpalayam (Ward-29) is below this median.

• Kalkotta Shop (Ward-13): Rs 1,600 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)
• Kamaraj 2nd Main Rd (Ward No.23): Rs 1,600 per sq.ft (2024)
• Kamaraj 2nd St. (Ward No.21): Rs 1,600 per sq.ft (2024)
• Kamaraj 3rd Cross st (Ward No.23): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kalpalayam (Ward-29)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalpalayam (Ward-29)?

The Madhavaram Sub Registrar Office covers Kalpalayam (Ward-29). The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madhavaram. It serves as a benchmark for determining the minimum price at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the fair pricing structure. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations for their property's worth during negotiations.

Frequently asked questions

What is the current guideline value of Kalpalayam (Ward-29)?

The current guideline value of Kalpalayam (Ward-29) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 804 per sq.ft to Rs 1,300 per sq.ft in 2024, which is an increase of 62%.

What is the land classification for Kalpalayam (Ward-29)?

The land classification for Kalpalayam (Ward-29) is Residential Class III Type - I.

Which Sub Registrar Office covers Madhavaram?

The Madhavaram Sub Registrar Office covers Madhavaram, including Kalpalayam (Ward-29), and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, while the guideline value for Kalpalayam (Ward-29) is below this median at Rs 1,300 per sq.ft.