Guideline Value for KALAIVANAR NAGAR "THIRUMURUGAN STREET"

Kalaivanar Nagar "thirumurugan Street" guideline value

The current guideline value for Kalaivanar Nagar "thirumurugan 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 Nagar "thirumurugan Street" has changed

Starting from the 2007 revision, the guideline value was Rs 850 per sq.ft. It then increased significantly to Rs 2,000 per sq.ft in the 2012 revision, marking a 135% rise. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, reflecting a 33% drop. The 2023 revision saw another increase to Rs 2,000 per sq.ft, followed by a 10% rise to the current value of Rs 2,200 per sq.ft in 2024.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 159%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value for Kalaivanar Nagar "thirumurugan Street" is below this median.

• Kalaivanar Nagar 'sivan Street': Rs 2,200 per sq.ft (2024)
• Kalaivanar Nagar "vinayagar Koil Street": Rs 2,200 per sq.ft (2024)
• Kalaivanar Nagar 'sithar Street': Rs 2,200 per sq.ft (2024)
• Kalaivanar Nagar 'yesunathar Street': Rs 2,200 per sq.ft (2024)
• Kalaivanar Nagar 'sithar Cross Street': Rs 2,200 per sq.ft (2024)
• Kalaivanar Nagar "saraswathy Street": Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaivanar Nagar "thirumurugan 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 to Rs 1,98,000. It is important to note that 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 more detailed calculations.

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

The Sub Registrar Office that covers Kalaivanar Nagar "thirumurugan 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 during the registration of property transactions in Padi. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction reflects the official valuation of the property.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kalaivanar Nagar "thirumurugan Street"?

The current guideline value of Kalaivanar Nagar "thirumurugan 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 significant changes, increasing from Rs 850 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024. There were fluctuations, including a drop in 2017, but the overall trend from 2007 to 2024 shows a 159% increase.

What is the land classification for this street?

Kalaivanar Nagar "thirumurugan Street" is classified as Residential Class V Type - II, indicating its designation for residential use.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.