Guideline Value for KALYANA MAISTRY GARDEN 1ST STREET

Kalyana Maistry Garden 1st Street guideline value

The current guideline value of Kalyana Maistry Garden 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, and it falls under the Residential Class V Type - III land classification.

How the guideline value of Kalyana Maistry Garden 1st Street has changed

The guideline value for Kalyana Maistry Garden 1st Street has undergone several revisions over the years. In 2007, the value was Rs 650 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 285%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a decline of 33%. The subsequent revision in 2023 saw the value rise to Rs 2,500 per sq.ft, and the latest revision in 2024 has set the value at Rs 2,700 per sq.ft, an increase of 8% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 315%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value of Kalyana Maistry Garden 1st Street is below this median.

• Kalyana Maistry Garden 15th Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 2nd Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 14th Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 3rd Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 13th Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kalyana Maistry Garden 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, charged at 7%, would be Rs 1,89,000, and the registration fee, charged at 2%, would be Rs 54,000. Together, the total cost for stamp duty and registration fee would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Kalyana Maistry Garden 1st Street?

Kalyana Maistry Garden 1st Street falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value is a crucial factor during property registration in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official registry.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are calculated based on the higher of the guideline value or the actual sale price, which ensures that the government receives due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kalyana Maistry Garden 1st Street?

The current guideline value of Kalyana Maistry Garden 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 650 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 315%.

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

Several other streets in Purasaivakkam have the same guideline value of Rs 2,700 per sq.ft in 2024, including Kalyana Maistry Garden 15th Street, 2nd Street, 14th Street, 3rd Street, 13th Street, and 4th Street.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Kalyana Maistry Garden 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kalyana Maistry Garden 1st Street?

The Sub Registrar Office covering Kalyana Maistry Garden 1st Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.