Guideline Value for KAVIYA GARDEN 3RD MAIN ROAD

Kaviya Garden 3rd Main Road guideline value

The current guideline value of Kaviya Garden 3rd Main Road 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 3rd Main Road has changed

The guideline value for Kaviya Garden 3rd Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 3,000 per sq.ft in 2023, and most recently to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Between the 2017 and 2023 revisions, there was a substantial increase of 49%. It is important to note that the register has no figures 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, with a median value of Rs 2,530 per sq.ft. Kaviya Garden 3rd Main Road's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Kaviya Garden 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviya Garden 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviya Garden 2nd Main Road 1st Cross Street: Rs 3,300 per sq.ft (2024)
• 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 1st Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kaviya Garden 3rd Main Road

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 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.

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

Which Sub Registrar Office covers Kaviya Garden 3rd Main Road?

The Kaviya Garden 3rd Main Road falls under 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 during the registration of property transactions in Manapakkam. It serves as a benchmark for determining the applicable stamp duty and registration fees when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Kaviya Garden 3rd Main Road?

The current guideline value of Kaviya Garden 3rd Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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 land classification for Kaviya Garden 3rd Main Road?

The land classification for Kaviya Garden 3rd Main Road is Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which office handles registrations for Kaviya Garden 3rd Main Road?

The Chennai South Joint I Sub Registrar Office handles registrations for Kaviya Garden 3rd Main Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.