Guideline Value for KAVIYA GARDEN 2ND MAIN ROAD 1ST CROSS STREET

Kaviya Garden 2nd Main Road 1st Cross Street guideline value

The current guideline value for Kaviya Garden 2nd Main Road 1st 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 Main Road 1st Cross Street has changed

The guideline value for Kaviya Garden 2nd Main Road 1st Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from the Rs 2,010 per sq.ft recorded in the 2017 revision. The value then increased to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From the 2012 revision to the 2024 revision, the overall change in guideline value is a 10% increase. It is important to note that there are no figures available 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 carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value in this area is Rs 2,530 per sq.ft, making the 2024 figure for Kaviya Garden 2nd Main Road 1st Cross Street above that median.

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

Stamp duty and registration fee for property in Kaviya Garden 2nd Main Road 1st 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 for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Kaviya Garden 2nd Main Road 1st Cross Street?

The Sub Registrar Office that covers Kaviya Garden 2nd Main Road 1st Cross Street is 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 here.

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

The guideline value plays a crucial role in the property registration process in Manapakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the overall cost involved in the transaction. This ensures that all parties are informed and compliant with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value for Kaviya Garden 2nd Main Road 1st Cross Street?

The current guideline value for Kaviya Garden 2nd Main Road 1st 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 2023 to Rs 3,300 per sq.ft in 2024, which is a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing a significant increase of 49% from 2017 to 2023.

What is the land classification for this area?

The land classification for Kaviya Garden 2nd Main Road 1st Cross Street is Residential Class I Type - I, indicating its suitability for residential purposes.

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

The Sub Registrar Office covering Kaviya Garden 2nd Main Road 1st Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is charged on the higher of the guideline value or the sale price, ensuring that the fees reflect the true value of the property being transferred.