Guideline Value for Abdul Kalam Nagar/Vivekanandhar Nagar

Abdul Kalam Nagar/Vivekanandhar Nagar guideline value

The current guideline value for Abdul Kalam Nagar/Vivekanandhar Nagar is Rs 825 per sq.ft, effective from 1 July 2024. This area is located in Kavulbazaar village under the Pammal SRO and is classified as Residential Class II Type - I.

How the guideline value of Abdul Kalam Nagar/Vivekanandhar Nagar has changed

The guideline value for Abdul Kalam Nagar/Vivekanandhar Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 502 per sq.ft, which increased to Rs 750 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has further increased the guideline value to Rs 825 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2012, 2007, 2003, and 2002 for this street. The changes in the guideline value highlight the adjustments made over time, with the most recent figure aligning with the median value of Rs 825 per sq.ft for the streets in Kavulbazaar.

Guideline values in Kavulbazaar

Kavulbazaar village has 44 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 825 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 825 per sq.ft, which is the same as the current value for Abdul Kalam Nagar/Vivekanandhar Nagar.

• Abdul Kalam Nagar/Bharathi Street: Rs 825 per sq.ft (2024)
• Abdul Kalam Nagar: Rs 825 per sq.ft (2024)
• Anna Highway(2): Rs 1,100 per sq.ft (2024)
• Anna Highway (3): Rs 1,100 per sq.ft (2024)
• Anna Highway(4): Rs 1,100 per sq.ft (2024)
• Anna Highway(5): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Abdul Kalam Nagar/Vivekanandhar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total fees to Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Abdul Kalam Nagar/Vivekanandhar Nagar?

The Sub Registrar Office that covers Abdul Kalam Nagar/Vivekanandhar Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kavulbazaar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and compliance with legal requirements.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Abdul Kalam Nagar/Vivekanandhar Nagar?

The current guideline value of Abdul Kalam Nagar/Vivekanandhar Nagar is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 502 per sq.ft in 2017 to Rs 750 per sq.ft in 2023, and then to Rs 825 per sq.ft in 2024. This reflects a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024.

What is the land classification for Abdul Kalam Nagar/Vivekanandhar Nagar?

Abdul Kalam Nagar/Vivekanandhar Nagar is classified as Residential Class II Type - I. This classification indicates the type of land use permitted in the area.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Abdul Kalam Nagar/Vivekanandhar Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office handles all registration processes for the area.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 74,250.