Guideline Value for Kalyana Kandasamy Street

Kalyana Kandasamy Street guideline value

The current guideline value of Kalyana Kandasamy Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of Kalyana Kandasamy Street has changed

In the 2023 revision, the guideline value was Rs 2,000 per sq.ft. The increase to Rs 2,200 per sq.ft in the 2024 revision represents a change of 10%. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

Thus, the only recorded revisions for Kalyana Kandasamy Street are from 2023 and 2024, with the subsequent increase reflecting a shift in the guideline value per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Kalyana Kandasamy Street's 2024 figure of Rs 2,200 per sq.ft is below this median.

• Kamakodi Street: Rs 2,200 per sq.ft (2024)
• Kalaivani Street: Rs 1,650 per sq.ft (2024)
• Kalaivanar Street: Rs 3,850 per sq.ft (2024)
• Kalaimagal Street: Rs 2,750 per sq.ft (2024)
• Kalaimagal Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Kalaimagal Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kalyana Kandasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kalyana Kandasamy Street?

Kalyana Kandasamy Street falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps establish a fair price for the transaction, which must be adhered to during the registration process at the Velacheri SRO. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kalyana Kandasamy Street?

The current guideline value of Kalyana Kandasamy Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed in recent years?

In 2023, the guideline value was Rs 2,000 per sq.ft, which increased by 10% to Rs 2,200 per sq.ft in 2024. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

What is the land classification of Kalyana Kandasamy Street?

Kalyana Kandasamy Street is classified as Residential Class II Type - I. This classification affects the guideline value and property transactions in the area.

What are the stamp duty and registration fees for property on this street?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Where is the Sub Registrar Office for Kalyana Kandasamy Street located?

The Velacheri Sub Registrar Office, which covers Kalyana Kandasamy Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.