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Guideline Value

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Guideline Value for KALAIVANAR NAGAR 'LAKSHMI NAGAR'

₹2200/sq.ft.

The guideline value for Kalaivanar Nagar 'lakshmi Nagar' in Padi village (Villivakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class V Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Padi

Village

Villivakkam

SRO

Residential Class V Type - II
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹850 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 ( Near By Nolambur Eb Office )
044-29561092
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Kalaivanar Nagar 'lakshmi Nagar'

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Kalaivanar Nagar 'lakshmi Nagar' guideline value

The current guideline value of Kalaivanar Nagar 'lakshmi Nagar' is Rs 2,200 per sq.ft, effective from 1 July 2024. This property 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 'lakshmi Nagar' has changed

The guideline value for Kalaivanar Nagar 'lakshmi Nagar' has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 850 per sq.ft. This increased to Rs 2,000 per sq.ft in 2012, then decreased to Rs 1,340 per sq.ft in 2017, and finally rose to Rs 2,000 per sq.ft in 2023. The current value is Rs 2,200 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. The overall increase from 2007 to 2024 is a significant 159%. The fluctuations in the guideline value reflect changes in the local real estate landscape.

Guideline values in Padi

In Padi, 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, with a median value of Rs 3,800 per sq.ft. The guideline value for Kalaivanar Nagar 'lakshmi Nagar' is below this median.

Stamp duty and registration fee for property in Kalaivanar Nagar 'lakshmi Nagar'

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, totaling Rs 1,98,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaivanar Nagar 'lakshmi Nagar'?

The Sub Registrar Office that covers Kalaivanar Nagar 'lakshmi Nagar' is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 an essential factor during the registration of property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kalaivanar Nagar 'lakshmi Nagar'?

The current guideline value of Kalaivanar Nagar 'lakshmi Nagar' 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 the years.

What are the stamp duty and registration fees for property 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 office handles property registrations in Kalaivanar Nagar 'lakshmi Nagar'?

The Villivakkam Sub Registrar Office handles property registrations for Kalaivanar Nagar 'lakshmi Nagar'. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Kalaivanar Nagar 'lakshmi Nagar'?

Kalaivanar Nagar 'lakshmi Nagar' is classified as Residential Class V Type - II according to the guideline value register.