Guideline Value for KALAIVANAR COLONY 'ANNA STREET'

Kalaivanar Colony 'anna Street' guideline value

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

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

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This saw a decrease to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, representing a 49% rise. The most recent 2024 revision set the value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, indicating that the guideline value for Kalaivanar Colony 'anna Street' is below this median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total cost of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office that covers Kalaivanar Colony 'anna 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 is a crucial factor when registering property transactions in Padi. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it can affect the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

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

The current guideline value of Kalaivanar Colony 'anna 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 seen several revisions, with the most recent being an increase from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. The value also increased from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023.

What is the land classification for this street?

Kalaivanar Colony 'anna Street' is classified as Residential Class V Type - II, indicating its use for residential purposes.

What are the stamp duty and registration fees for properties here?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total costs would amount to Rs 1,98,000.

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

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. It is advisable to check for more details using the provided link to find your SRO.