Guideline Value for KALYANA MAISTRY GARDEN 5TH STREET

Kalyana Maistry Garden 5th Street guideline value

The current guideline value of Kalyana Maistry Garden 5th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class V Type - III.

How the guideline value of Kalyana Maistry Garden 5th Street has changed

The guideline value for Kalyana Maistry Garden 5th Street has seen 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 285% rise. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. Following this, the value surged to Rs 2,500 per sq.ft in 2023, and further increased to the current value of Rs 2,700 per sq.ft in 2024, reflecting an 8% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 315%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, indicating that Kalyana Maistry Garden 5th Street's 2024 figure is below this median.

• Kalyana Maistry Garden 4th Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 6th Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 3rd Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 7th Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 2nd Street: Rs 2,700 per sq.ft (2024)
• Kalyana Maistry Garden 8th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kalyana Maistry Garden 5th 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, charged at 7%, amounts to Rs 1,89,000, and the registration fee at 2% is Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalyana Maistry Garden 5th Street?

The Kalyana Maistry Garden 5th Street falls under the jurisdiction of 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 during the registration of property transactions in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is compared with the actual sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Kalyana Maistry Garden 5th Street?

The current guideline value for Kalyana Maistry Garden 5th 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 5th Street?

Kalyana Maistry Garden 5th Street is classified as Residential Class V Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Kalyana Maistry Garden 5th Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.