Guideline Value for KALAIVANAR COLONY 'AMBEDKAR STREET'

Kalaivanar Colony 'ambedkar Street' guideline value

The current guideline value of Kalaivanar Colony 'ambedkar Street' is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Padi village, under the Villivakkam SRO, and is classified as Residential Class V Type - II.

How the guideline value of Kalaivanar Colony 'ambedkar Street' has changed

The guideline value for Kalaivanar Colony 'ambedkar Street' has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the value saw a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 3,800 per sq.ft, placing the 2024 value of Kalaivanar Colony 'ambedkar Street' below this median.

• KALAIVANAR COLONY 7th STREET: Rs 2,200 per sq.ft (2024)
• Kalaivanar Colony 'anna Street': Rs 2,200 per sq.ft (2024)
• KALAIVANAR COLONY 6th STREET: Rs 2,200 per sq.ft (2024)
• Kalaivanar Colony 'rajaji Street': Rs 2,200 per sq.ft (2024)
• KALAIVANAR COLONY 5th STREET: Rs 2,200 per sq.ft (2024)
• Kalaivanar Colony 'sithar Street': Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaivanar Colony 'ambedkar Street'

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees 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 further calculations.

Which Sub Registrar Office covers Kalaivanar Colony 'ambedkar Street'?

The Sub Registrar Office that covers Kalaivanar Colony 'ambedkar Street' is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Padi. It serves as a benchmark for determining the amount of stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a buyer or seller engages in a transaction, the guideline value is referenced to ensure that the appropriate fees are calculated accurately. This helps in maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Kalaivanar Colony 'ambedkar Street'?

The current guideline value of Kalaivanar Colony 'ambedkar Street' is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000 based on the guideline value.

Which office handles registrations for properties in this street?

The Villivakkam Sub Registrar Office handles registrations for properties in Kalaivanar Colony 'ambedkar Street'.

What is the land classification for this street?

Kalaivanar Colony 'ambedkar Street' is classified as Residential Class V Type - II.