Guideline Value for KALAIVANAR NAGAR 'SITHAR STREET'

Kalaivanar Nagar 'sithar Street' guideline value

The current guideline value of Kalaivanar Nagar 'sithar 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 'sithar Street' has changed

The guideline value for Kalaivanar Nagar 'sithar Street' has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and finally rose to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but the overall change from 2012 to 2024 shows a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, with a median value of Rs 3,800 per sq.ft. The guideline value of Kalaivanar Nagar 'sithar Street' is below this median.

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

Stamp duty and registration fee for property in Kalaivanar Nagar 'sithar 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 the duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office that covers Kalaivanar Nagar 'sithar 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 details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Padi. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these fees are calculated based on a standardized value set by the authorities.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

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

The current guideline value of Kalaivanar Nagar 'sithar 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 to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the stamp duty for property in Kalaivanar Nagar 'sithar Street'?

The stamp duty for property in Kalaivanar Nagar 'sithar Street' is calculated at 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, it amounts to Rs 1,54,000.

Which office handles property registrations for Kalaivanar Nagar 'sithar Street'?

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

What is the land classification for Kalaivanar Nagar 'sithar Street'?

Kalaivanar Nagar 'sithar Street' is classified as Residential Class V Type - II according to the local land classification regulations.