Guideline Value for SRI KALIGAMBAL NAGAR

Sri Kaligambal Nagar guideline value

The current guideline value of Sri Kaligambal Nagar, located in Melsingilimedu village under the Thiruvottiyur SRO, is Rs 330 per sq.ft. This value is effective from 1 July 2024 and falls under the Commercial Class I Type - I land classification.

How the guideline value of Sri Kaligambal Nagar has changed

The guideline value for Sri Kaligambal Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 18 per sq.ft, which increased to Rs 20 per sq.ft in 2003, reflecting an increase of 11%. The value then saw a significant rise to Rs 300 per sq.ft in 2012, marking a remarkable increase of 1,400%. However, it dropped to Rs 201 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 300 per sq.ft in 2023, followed by another increase to Rs 330 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. Notably, the register has no figure for this street in 2007.

Overall, from 2002 to 2024, the guideline value has increased by 1,733%. The changes between the revisions indicate a fluctuating pattern, with significant increases and decreases over the years.

Guideline values in Melsingilimedu

In Melsingilimedu, there are 14 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 880 per sq.ft, with a median value of Rs 330 per sq.ft. Sri Kaligambal Nagar's 2024 figure is equal to this median.

• Sri Kaligambal Nagar Ext: Rs 330 per sq.ft (2024)
• Sri Kaligambal Avenue: Rs 330 per sq.ft (2024)
• Sri Lakshmi Amman Nagar: Rs 330 per sq.ft (2024)
• Thippu Jayanthi Avenue: Rs 880 per sq.ft (2024)
• Thippu Jayanthi Nagar: Rs 330 per sq.ft (2024)
• Thippu Jayanthi Nagar (2): Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kaligambal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total cost for these fees to Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Kaligambal Nagar?

The Sub Registrar Office that covers Sri Kaligambal Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

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

When buying or selling property, the guideline value helps both parties understand the official value of the property. It is essential to consider this value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Kaligambal Nagar?

The current guideline value of Sri Kaligambal Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 18 per sq.ft in 2002 to Rs 330 per sq.ft in 2024, with various increases and decreases across the years.

What is the land classification for Sri Kaligambal Nagar?

Sri Kaligambal Nagar is classified as Commercial Class I Type - I, which indicates its intended use for commercial purposes.

How is stamp duty calculated for properties in Sri Kaligambal Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100.

Where is the Sub Registrar Office for Sri Kaligambal Nagar located?

The Sub Registrar Office for Sri Kaligambal Nagar is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.