Guideline Value for KALYANA MAISTRY GARDEN 2ND STREET

Kalyana Maistry Garden 2nd Street guideline value

The current guideline value of Kalyana Maistry Garden 2nd 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 is classified as Residential Class V Type - III.

How the guideline value of Kalyana Maistry Garden 2nd Street has changed

Over the years, the guideline value of Kalyana Maistry Garden 2nd Street has undergone several revisions. The earliest recorded value is from 2007, which was Rs 650 per sq.ft. This value increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 285%. However, the value saw a decrease to Rs 1,675 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 raised the value to Rs 2,500 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 2,700 per sq.ft, an increase of 8% from the previous year. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the value increased by 49%, reflecting a significant change in the guideline value over this period. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 315%, highlighting the fluctuations in property values in this area.

Guideline values in Purasaivakkam

In Purasaivakkam, a total of 519 streets fall under the Purasaivakkam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Kalyana Maistry Garden 2nd Street's value below this median.

• Kalyana Maistry Garden 1st Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 3rd Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 15th Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 4th Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 14th Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 5th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kalyana Maistry Garden 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalyana Maistry Garden 2nd Street?

The Sub Registrar Office that covers Kalyana Maistry Garden 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value in accordance with government regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers and sellers must be aware of these values to ensure compliance with local laws and to avoid any penalties during the registration process.

Frequently asked questions

What is the current guideline value of Kalyana Maistry Garden 2nd Street?

The current guideline value of Kalyana Maistry Garden 2nd 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 from Rs 650 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting a total increase of 315% over the years.

What is the land classification for Kalyana Maistry Garden 2nd Street?

Kalyana Maistry Garden 2nd Street is classified as Residential Class V Type - III, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations for Kalyana Maistry Garden 2nd Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles property registrations for Kalyana Maistry Garden 2nd Street.