Guideline Value for KAVIYA GARDENS

Kaviya Gardens guideline value

The current guideline value for Kaviya Gardens in Manapakkam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Kaviya Gardens has changed

The guideline value for Kaviya Gardens has undergone several revisions over the years. Starting from Rs 118 per sq.ft in 2002, it increased to Rs 132 per sq.ft in 2003, marking a 12% rise. The value then saw a significant jump to Rs 750 per sq.ft in 2007, reflecting a 468% increase. In 2012, the value was revised to Rs 3,000 per sq.ft, which was a 300% increase from the previous figure. However, it decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value rose to Rs 3,000 per sq.ft, showing a substantial increase of 49%. The most recent revision in 2024 has set the value at Rs 3,300 per sq.ft, representing a 10% increase from the previous year. The register has no figure for Kaviya Gardens in the years not mentioned.

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 guideline value for the area is Rs 2,530 per sq.ft, placing Kaviya Gardens above this median.

• Kaviya Garden Right Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviya Garden 4th Cross Street: Rs 3,300 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Kaviya Gardens

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees 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 more details.

Which Sub Registrar Office covers Kaviya Gardens?

Kaviya Gardens 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 critical factor when registering property in Manapakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value. Buyers and sellers must consider this value when negotiating the sale price of the property.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. It is essential for buyers to be aware of the current guideline value to avoid any discrepancies during the registration of their property.

Frequently asked questions

What is the current guideline value of Kaviya Gardens?

The current guideline value of Kaviya Gardens 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 118 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 2697% over the years.

What is the median guideline value in Manapakkam?

The median guideline value in Manapakkam is Rs 2,530 per sq.ft, which is lower than the current value of Kaviya Gardens.

What are the stamp duty and registration fees for property in Kaviya Gardens?

The stamp duty for a property valued at Rs 33,00,000 is Rs 2,31,000, and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Kaviya Gardens?

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