Guideline Value for SRI KALLAZHAGAR CITY PHASE I

Sri Kallazhagar City Phase I guideline value

The current guideline value of Sri Kallazhagar City Phase I is Rs 800 per sq.ft, effective from 1 July 2024. This property is located in Keelakazhani village, under the Gooduvancheri SRO, and is classified as Mixed Type - I land.

How the guideline value of Sri Kallazhagar City Phase I has changed

In the 2017 revision, the guideline value was set at Rs 536 per sq.ft. This figure remained unchanged in the 2023 revision, but in the 2024 revision, it increased to Rs 800 per sq.ft, reflecting a 49% increase from the 2017 figure. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was no change in the guideline value, maintaining the rate at Rs 800 per sq.ft. The overall change from 2017 to 2024 shows an increase of 49%, marking a significant adjustment in the guideline value for this property.

Guideline values in Keelakazhani

In Keelakazhani village, there are 35 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,000 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value for Sri Kallazhagar City Phase I is above this median.

• Sri Gopalakrishna Nagar Phase -II: Rs 800 per sq.ft (2024)
• Sri Lakshmi Hayagerivar Nagar: Rs 700 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 700 per sq.ft (2024)
• Sri Mahalakshmi Nagar Extension-II: Rs 700 per sq.ft (2024)
• Sri Mahalakshmi Nagar Extn I: Rs 700 per sq.ft (2024)
• Sri Meenakshi Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kallazhagar City Phase I

For a 1,000 sq.ft plot at the current rate of Rs 800 per sq.ft, the guideline value is Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sri Kallazhagar City Phase I?

The Sub Registrar Office covering Sri Kallazhagar City Phase I is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Keelakazhani. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Sri Kallazhagar City Phase I?

The current guideline value of Sri Kallazhagar City Phase I is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 800 per sq.ft from 2023 to 2024, while it increased by 49% from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2024.

What is the land classification of Sri Kallazhagar City Phase I?

Sri Kallazhagar City Phase I is classified as Mixed Type - I land, which indicates a diverse use of the property.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sri Kallazhagar City Phase I?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 800 per sq.ft, the total guideline value is Rs 8,00,000, leading to a stamp duty of Rs 56,000 at 7%.