Guideline Value for KAVIYA GARDEN 4TH CROSS STREET

Kaviya Garden 4th Cross Street guideline value

The current guideline value of Kaviya Garden 4th 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 4th Cross Street has changed

The guideline value for Kaviya Garden 4th Cross Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017, marking a change of -33%. In 2023, the value increased to Rs 3,000 per sq.ft, and in 2024, it rose again to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant rise of 49%, bringing the value back up to Rs 3,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. 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 with a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, indicating that Kaviya Garden 4th Cross Street's 2024 figure is above that median.

• Kaviya Garden 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Kaviya Garden 3rd 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 4th 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, charged at 7%, would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaviya Garden 4th Cross Street?

Kaviya Garden 4th 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 plays a crucial role in the registration process of property transactions in Manapakkam. 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 for tax purposes.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for completing the transaction legally. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the property transaction.

Frequently asked questions

What is the current guideline value of Kaviya Garden 4th Cross Street?

The current guideline value of Kaviya Garden 4th 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 significantly, from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back 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 of Kaviya Garden 4th Cross Street?

The land classification for Kaviya Garden 4th Cross Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Kaviya Garden 4th Cross Street?

The Sub Registrar Office covering Kaviya Garden 4th Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000, leading to fees of Rs 2,97,000.