Guideline Value for KALAIVANAR NAGAR "VINAYAGAR KOIL STREET"

Kalaivanar Nagar "vinayagar Koil Street" guideline value

The current guideline value for Kalaivanar Nagar "vinayagar Koil 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 "vinayagar Koil Street" has changed

The guideline value for this street has seen several revisions over the years. In 2007, the value was Rs 850 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 135%. However, the value dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2023 set the value at Rs 2,000 per sq.ft, before it increased to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

Overall, from 2007 to 2024, the guideline value has increased by 159%. The revisions for 2002 and 2003 do not have figures available for this street in the register.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value 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 Nagar "vinayagar Koil Street" is below this median.

• Kalaivanar Nagar "thirumurugan Street": Rs 2,200 per sq.ft (2024)
• Kalaivanar Nagar 'yesunathar Street': Rs 2,200 per sq.ft (2024)
• Kalaivanar Nagar 'sivan Street': Rs 2,200 per sq.ft (2024)
• Kalaivanar Nagar 'sithar 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 "vinayagar Koil 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 fees together to 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.

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

Which Sub Registrar Office covers Kalaivanar Nagar "vinayagar Koil Street"?

The Sub Registrar Office that covers Kalaivanar Nagar "vinayagar Koil 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 reference point for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It is important for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value for Kalaivanar Nagar "vinayagar Koil Street" is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much 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, marking an overall increase of 159% over the years.

What is the land classification for this street?

Kalaivanar Nagar "vinayagar Koil Street" is classified as Residential Class V Type - II.

Where can I find the registration office for this area?

The registration office for Kalaivanar Nagar "vinayagar Koil Street" is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this area?

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