Guideline Value for KALAIVANAR NAGAR 'SIVAN STREET'

Kalaivanar Nagar 'sivan Street' guideline value

The current guideline value of Kalaivanar Nagar 'sivan Street' is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Padi village, under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Class V Type - II.

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

The guideline value for Kalaivanar Nagar 'sivan 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, between 2012 and 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The 2017 revision set the value at Rs 1,340 per sq.ft, which then increased to Rs 2,000 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 brought the guideline value to Rs 2,200 per sq.ft, an increase of 10% from the previous year.

It is important to note that the register has no figures for this street in 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 159%.

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 for Kalaivanar Nagar 'sivan Street' is below this median.

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

Stamp duty and registration fee for property in Kalaivanar Nagar 'sivan 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 cost for stamp duty and registration fees 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 details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Kalaivanar Nagar 'sivan 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 an essential factor during property transactions in Padi. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. The guideline value serves as a benchmark for the minimum value at which properties can be registered.

When a property is sold, the guideline value ensures that the registration process is transparent and standardized. Buyers and sellers must be aware of the guideline value to understand the financial implications of their transactions, including the costs associated with stamp duty and registration fees.

Frequently asked questions

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

The current guideline value of Kalaivanar Nagar 'sivan 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 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 are the stamp duty and registration fees for properties 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 for Kalaivanar Nagar 'sivan Street'?

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

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

The land classification for Kalaivanar Nagar 'sivan Street' is Residential Class V Type - II.