Guideline Value for KALAIVANAR NAGAR 'MAHALAKSHMI STREET'

Kalaivanar Nagar 'mahalakshmi Street' guideline value

The current guideline value of Kalaivanar Nagar 'mahalakshmi Street' is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO, classified as Residential Class V Type - II.

How the guideline value of Kalaivanar Nagar 'mahalakshmi Street' has changed

Over the years, the guideline value for Kalaivanar Nagar 'mahalakshmi Street' has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was later reduced to Rs 1,340 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 2,000 per sq.ft in 2023 and further to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 of 2024. The median guideline value in this area is Rs 3,800 per sq.ft, indicating that the guideline value for Kalaivanar Nagar 'mahalakshmi Street' is below this median.

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

Stamp duty and registration fee for property in Kalaivanar Nagar 'mahalakshmi 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, 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaivanar Nagar 'mahalakshmi Street'?

The Sub Registrar Office that covers Kalaivanar Nagar 'mahalakshmi Street' 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 details.

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

The guideline value is a crucial factor when buying or selling property in Padi, as it determines the stamp duty and registration fees payable during the registration process. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the correct fees are paid to the government.

Understanding the guideline value helps both buyers and sellers make informed decisions during property transactions. It is essential to consult the latest guidelines to ensure compliance with local regulations and to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Kalaivanar Nagar 'mahalakshmi Street'?

The current guideline value of Kalaivanar Nagar 'mahalakshmi 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for this street?

Kalaivanar Nagar 'mahalakshmi Street' is classified as Residential Class V Type - II.

What are the other streets in Padi and their guideline values?

Other streets in Padi include Kalaivanar Nagar "maduraiveeran Street", Kalaivanar Nagar Main Road, Kalaivanar Nagar 'lakshmi Street', Kalaivanar Nagar 'muneswaran Kovil Street', Kalaivanar Nagar 'lakshmi Nagar', and Kalaivanar Nagar "n.S.K.Street", with values ranging from Rs 2,200 to Rs 2,500 per sq.ft.

Where is the Villivakkam Sub Registrar Office located?

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