Guideline Value for Kalpana Nagar

Kalpana Nagar guideline value

The current guideline value of Kalpana Nagar is Rs 950 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Kalpana Nagar has changed

Over the years, the guideline value of Kalpana Nagar has seen several revisions. The 2007 revision set the value at Rs 450 per sq.ft, which increased by 100% to Rs 900 per sq.ft in 2012. However, the value then decreased by 33% to Rs 603 per sq.ft in 2017. The 2023 revision raised the value to Rs 900 per sq.ft, before the latest increase to Rs 950 per sq.ft in 2024, marking a 6% rise.

From the 2017 revision to 2023, there was a significant increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 111%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which means that Kalpana Nagar's 2024 guideline value is below this median.

• Kalidaser Street: Rs 2,200 per sq.ft (2024)
• Kalamegam Street Extn: Rs 4,400 per sq.ft (2024)
• Kalamegam Street: Rs 4,400 per sq.ft (2024)
• Kalaivani Street: Rs 950 per sq.ft (2024)
• Kalainjar Street: Rs 950 per sq.ft (2024)
• Kamarajar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kalpana Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value would be Rs 9,50,000. The stamp duty at 7% would amount to Rs 66,500, and the registration fee at 2% would be Rs 19,000, bringing the total to Rs 85,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalpana Nagar?

The Sub Registrar Office that covers Kalpana Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Selaiyur, the guideline value plays a crucial role in determining the amount of stamp duty and registration fees payable. This value is used by the registration authorities to assess the property’s worth for taxation purposes.

It is essential to be aware that the guideline value is regularly updated, and buyers should check the current value to ensure compliance with the latest regulations. This ensures that all transactions are conducted transparently and in accordance with the law.

Frequently asked questions

What is the current guideline value of Kalpana Nagar?

The current guideline value of Kalpana Nagar is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 950 per sq.ft in 2024, reflecting an overall increase of 111% over the years.

What are the other streets in Selaiyur and their guideline values?

Other streets in Selaiyur include Kalidaser Street at Rs 2,200 per sq.ft, Kalamegam Street Extn at Rs 4,400 per sq.ft, and Kalaivani Street at Rs 950 per sq.ft, among others.

What are the stamp duty and registration fees for Kalpana Nagar?

The stamp duty for a property in Kalpana Nagar is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 85,500.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.