Guideline Value for KAVIYA GARDEN 2ND CROSS STREET

Kaviya Garden 2nd Cross Street guideline value

The current guideline value of Kaviya Garden 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kaviya Garden 2nd Cross Street has changed

The guideline value for Kaviya Garden 2nd Cross Street has seen several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. Following this, the value rose significantly to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figure for the years 2002, 2003, and 2007 for this street.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, which means that Kaviya Garden 2nd Cross Street's 2024 figure is above that median.

• Kaviya Garden 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Kaviya Garden 1st Main Road: Rs 3,300 per sq.ft (2024)
• Kaviya Garden 2nd Main Road 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviya Garden 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviya Garden 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviya Garden 3rd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kaviya Garden 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It's important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Kaviya Garden 2nd Cross Street?

Kaviya Garden 2nd Cross Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation set by the government.

During the registration process, the buyer and seller must adhere to the guideline value to avoid any discrepancies. This ensures transparency and fairness in property transactions, as both parties are aware of the official valuation that influences the costs involved.

Frequently asked questions

What is the current guideline value of Kaviya Garden 2nd Cross Street?

The current guideline value of Kaviya Garden 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the median guideline value in Manapakkam?

The median guideline value for streets in Manapakkam under the Chennai South Joint I SRO is Rs 2,530 per sq.ft, with Kaviya Garden 2nd Cross Street's 2024 figure being above this median.

What are the stamp duty and registration fees for Kaviya Garden 2nd Cross Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, leading to a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Kaviya Garden 2nd Cross Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Kaviya Garden 2nd Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.