Guideline Value for KALAIVANAR NAGAR

Kalaivanar Nagar guideline value

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

How the guideline value of Kalaivanar Nagar has changed

The guideline value for Kalaivanar Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 for these streets is Rs 3,800 per sq.ft, indicating that the guideline value for Kalaivanar Nagar is below this median.

• Kalaivanar Nagar "alla Street": Rs 2,200 per sq.ft (2024)
• Kalaivanar Nagar "dharmaraj Street": Rs 2,200 per sq.ft (2024)
• Kalaivanar Nagar "evan Street": Rs 2,200 per sq.ft (2024)
• Kalaivanar Colony 'sithar Street': Rs 2,200 per sq.ft (2024)
• Kalaivanar Nagar "karumariamman Nagar": Rs 2,200 per sq.ft (2024)
• Kalaivanar Colony 'rajaji Street': Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaivanar 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, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kalaivanar Nagar?

Kalaivanar Nagar falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process of property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency and accountability in real estate dealings. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kalaivanar Nagar?

The current guideline value of Kalaivanar 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased 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 of Kalaivanar Nagar?

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

What are the other streets in Padi with the same guideline value?

Other streets in Padi that share the same guideline value of Rs 2,200 per sq.ft include "alla Street," "dharmaraj Street," "evan Street," "karumariamman Nagar," and "rajaji Street," among others.

Where can I find the Sub Registrar Office for Kalaivanar Nagar?

The Villivakkam Sub Registrar Office, which covers Kalaivanar Nagar, is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.