Guideline Value for Kalyan Nagar 2nd Cross st

Kalyan Nagar 2nd Cross st guideline value

The current guideline value for Kalyan Nagar 2nd Cross st is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kalyan Nagar 2nd Cross st has changed

Over the years, the guideline value for Kalyan Nagar 2nd Cross st has seen several revisions. The 2007 revision set the value at Rs 750 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 300% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 2,010 per sq.ft. The 2017 revision saw a substantial increase of 49%, bringing the value to Rs 3,000 per sq.ft in 2023.

The most recent 2024 revision has further increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the current value for Kalyan Nagar 2nd Cross st.

• Kalyan Nagar 2nd St: Rs 3,300 per sq.ft (2024)
• Kalyan Nagar 1st Cross St: Rs 3,300 per sq.ft (2024)
• Kalyan Nagar 3rd St: Rs 3,300 per sq.ft (2024)
• Kalyan Nagar 1st: Rs 3,300 per sq.ft (2024)
• Kalyan Nagar 4th cross street: Rs 3,300 per sq.ft (2024)
• Kalyan Nagar 4th St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kalyan Nagar 2nd Cross st

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost of these charges to Rs 2,97,000. It is important to note that 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 on calculating these fees.

Which Sub Registrar Office covers Kalyan Nagar 2nd Cross st?

The Kalyan Nagar 2nd Cross st falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

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

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs that must be settled during the registration process. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value for Kalyan Nagar 2nd Cross st?

The current guideline value for Kalyan Nagar 2nd Cross st is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 750 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking a total increase of 340% over the years.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Kalyan Nagar 2nd Cross st?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Kalyan Nagar 2nd Cross st, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions, serving as a minimum benchmark for property registration in Tambaram.