Guideline Value for Kalvai Street (Kalvai karai Street)

Kalvai Street (Kalvai karai Street) guideline value

The current guideline value of Kalvai Street (Kalvai karai Street) is Rs 650 per sq.ft, effective from 1 July 2024. This street is located in Moonramkattalai village, under the Kunrathur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kalvai Street (Kalvai karai Street) has changed

In the 2012 revision, the guideline value was Rs 600 per sq.ft. This figure decreased to Rs 402 per sq.ft in the 2017 revision, marking a drop of 33%. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, which is a rise of 49%. The most recent revision in 2024 saw the guideline value increase to Rs 650 per sq.ft, reflecting an 8% change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 8%.

Guideline values in Moonramkattalai

Moonramkattalai village has a total of 43 streets under the Kunrathur SRO, with guideline values ranging from Rs 650 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 650 per sq.ft, which is equal to the 2024 figure for Kalvai Street (Kalvai karai Street).

• Kamarajar Nagar: Rs 650 per sq.ft (2024)
• Kandasamy Nagar: Rs 650 per sq.ft (2024)
• Kundrathur Road: Rs 1,350 per sq.ft (2024)
• K.V. Road: Rs 650 per sq.ft (2024)
• Ganesh Nagar: Rs 1,000 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kalvai Street (Kalvai karai Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 650 per sq.ft, the total guideline value amounts to Rs 6,50,000. The stamp duty at 7% would be Rs 45,500, and the registration fee at 2% would be Rs 13,000, bringing the total cost for these fees to Rs 58,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalvai Street (Kalvai karai Street)?

The Sub Registrar Office that covers Kalvai Street (Kalvai karai Street) is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Moonramkattalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value will be referenced to calculate the necessary fees. Buyers should be aware that the fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kalvai Street (Kalvai karai Street)?

The current guideline value of Kalvai Street (Kalvai karai Street) is Rs 650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 650 per sq.ft in 2024.

What is the land classification for Kalvai Street (Kalvai karai Street)?

Kalvai Street (Kalvai karai Street) is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Kalvai Street (Kalvai karai Street)?

The Sub Registrar Office for Kalvai Street (Kalvai karai Street) is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Kalvai Street (Kalvai karai Street)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,50,000, the stamp duty would be Rs 45,500.