Guideline Value for Kalyani Nagar (near Vaidyalingam Salai)

Kalyani Nagar (near Vaidyalingam Salai) guideline value

The current guideline value for Kalyani Nagar (near Vaidyalingam Salai) is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kalyani Nagar (near Vaidyalingam Salai) has changed

The guideline value for Kalyani Nagar has undergone several revisions over the years. In 2002, the value was Rs 92 per sq.ft, which increased to Rs 100 per sq.ft in 2003. Following this, the value rose significantly to Rs 250 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017. The value then increased to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,700 per sq.ft in 2024.

Between the revisions, notable changes include a 9% increase from 2002 to 2003, a substantial 150% rise from 2003 to 2007, and a remarkable 500% jump from 2007 to 2012. After a decrease of 33% from 2012 to 2017, the value saw a 49% increase from 2017 to 2023, followed by a 13% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1,748%.

Guideline values in Neelankarai

In Neelankarai village, there are 377 streets that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Kalyani Nagar (near Vaidyalingam Salai) is below this median.

• Kalathu Mettu Street: Rs 3,300 per sq.ft (2024)
• Kamarajar Street: Rs 1,700 per sq.ft (2024)
• Kamaraj Nagar: Rs 2,200 per sq.ft (2024)
• Kalaignar Karunanidhi Salai: Rs 6,600 per sq.ft (2024)
• Kakkan Street: Rs 1,700 per sq.ft (2024)
• Kamaraj Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kalyani Nagar (near Vaidyalingam Salai)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, the total cost for these fees would be Rs 1,53,000. 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 information on fees.

Which Sub Registrar Office covers Kalyani Nagar (near Vaidyalingam Salai)?

The Kalyani Nagar (near Vaidyalingam Salai) area is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can find your SRO.

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

The guideline value serves as a benchmark for property transactions in Neelankarai. It is used to determine the stamp duty and registration fees that need to be paid during the buying or selling process.

When registering a property, the guideline value is considered to ensure that the appropriate fees are collected based on the value of the property being transferred. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value for Kalyani Nagar?

The current guideline value for Kalyani Nagar (near Vaidyalingam Salai) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

In the last few revisions, the guideline value increased from Rs 1,500 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024, representing a 13% increase.

What was the guideline value in 2017?

The guideline value for Kalyani Nagar in 2017 was Rs 1,005 per sq.ft.

How is the stamp duty calculated for properties in Kalyani Nagar?

The 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 17,00,000, the stamp duty would be Rs 1,19,000.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.