Guideline Value for Kalyan Street

Kalyan Street guideline value

The current guideline value of Kalyan Street, located in Puzhal village, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Kalyan Street has changed

The guideline value for Kalyan Street has undergone several revisions over the years. In 2002, the guideline value was Rs 1,264 per sq.ft. This figure dropped to Rs 128 per sq.ft in 2003, marking a significant decrease of 90%. From 2003 to 2007, the value increased by 134%, reaching Rs 300 per sq.ft. The 2012 revision set the value at Rs 800 per sq.ft, reflecting a 167% rise from the previous revision. However, this was followed by a decrease of 33% to Rs 536 per sq.ft in 2017.

In 2023, the guideline value was revised to Rs 1,000 per sq.ft, which represented an 87% increase from the 2017 figure. The most recent revision in 2024 has set the guideline value at Rs 1,100 per sq.ft, indicating a 10% increase from the previous year. The register has no figure for Kalyan Street for the years not mentioned.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, placing Kalyan Street's current figure slightly below that median.

• Kalki Nagar: Rs 1,100 per sq.ft (2024)
• Kali Street: Rs 1,102 per sq.ft (2024)
• Kamaraj Nagar: Rs 1,100 per sq.ft (2024)
• Kanchi Arul Nagar: Rs 1,102 per sq.ft (2024)
• Kanchi Arul Nagar Extn.: Rs 1,102 per sq.ft (2024)
• Jithesh Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kalyan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total charges to Rs 99,000. It is important to note that the 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.

Which Sub Registrar Office covers Kalyan Street?

The Kalyan Street falls under the jurisdiction of the Redhills Sub Registrar Office. The address is Sub Registrar Office, 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 Puzhal

The guideline value is a crucial factor when registering property transactions in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kalyan Street?

The current guideline value of Kalyan Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kalyan Street has seen significant changes, from Rs 1,264 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, with various increases and decreases in between.

What is the registration fee for property in Kalyan Street?

The registration fee for property in Kalyan Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total registration fee would be Rs 22,000.

Where is the Redhills Sub Registrar Office located?

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

How is the guideline value determined?

The guideline value is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in property values in the area.