Guideline Value for KALAIVANAR NAGAR "MADURAIVEERAN STREET"

Kalaivanar Nagar "maduraiveeran Street" guideline value

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

How the guideline value of Kalaivanar Nagar "maduraiveeran Street" has changed

The guideline value for Kalaivanar Nagar "maduraiveeran Street" has seen several revisions over the years. In the 2007 revision, the value was Rs 850 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in the 2012 revision. However, it then decreased to Rs 1,340 per sq.ft in 2017. The 2023 revision saw an increase to Rs 2,000 per sq.ft, and the most recent 2024 revision has set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2003 for this street. The overall increase from the 2007 revision to the 2024 revision is 159%, showcasing a significant rise in the guideline value over this period.

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 as per the 2024 revision. The median value for these streets is Rs 3,800 per sq.ft, which means that the guideline value for Kalaivanar Nagar "maduraiveeran Street" is below this median.

• Kalaivanar Nagar 'lakshmi Street': Rs 2,200 per sq.ft (2024)
• Kalaivanar Nagar 'mahalakshmi Street': Rs 2,200 per sq.ft (2024)
• Kalaivanar Nagar Main Road: Rs 2,500 per sq.ft (2024)
• Kalaivanar Nagar 'lakshmi Nagar': Rs 2,200 per sq.ft (2024)
• Kalaivanar Nagar 'muneswaran Kovil Street': Rs 2,200 per sq.ft (2024)
• Kalaivanar Nagar "krishnan Street": Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaivanar Nagar "maduraiveeran 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, bringing the total cost for these fees to Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kalaivanar Nagar "maduraiveeran Street"?

The Sub Registrar Office that covers Kalaivanar Nagar "maduraiveeran Street" is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value serves as a benchmark for property transactions in Padi. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area. Both the buyer and seller must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is taken into account to assess the appropriate taxes that need to be paid. This ensures that the government receives the correct amount of revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value for Kalaivanar Nagar "maduraiveeran Street"?

The current guideline value for Kalaivanar Nagar "maduraiveeran 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 850 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 159% over this period.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office should I visit for property transactions in this area?

The Villivakkam Sub Registrar Office is responsible for property transactions in Kalaivanar Nagar "maduraiveeran Street". It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Kalaivanar Nagar "maduraiveeran Street"?

The land classification for Kalaivanar Nagar "maduraiveeran Street" is Residential Class V Type - II.