Guideline Value for Kaavya Garden Annex

Kaavya Garden Annex guideline value

The current guideline value of Kaavya Garden Annex is Rs 660 per sq.ft. This property is located in Padiyanallur village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kaavya Garden Annex has changed

The guideline value for Kaavya Garden Annex has seen several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft. This increased to Rs 600 per sq.ft in 2012, followed by a decrease to Rs 402 per sq.ft in 2017. The value then rose significantly to Rs 600 per sq.ft in 2023, and the most recent revision in 2024 has set the guideline value at Rs 660 per sq.ft. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Between the revisions, we see a range of changes. From 2007 to 2012, the value increased by 100%, but then it decreased by 33% from 2012 to 2017. The value saw a substantial increase of 49% from 2017 to 2023, and a further rise of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Padiyanallur

Padiyanallur has a total of 132 streets under the Redhills SRO, with the 2024 guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median value for these streets is Rs 770 per sq.ft, indicating that the guideline value for Kaavya Garden Annex is below this median.

• Jothi Nagar: Rs 1,320 per sq.ft (2024)
• Kakkanji Street: Rs 770 per sq.ft (2024)
• Kalaivanar Street: Rs 770 per sq.ft (2024)
• Jeeva Street: Rs 1,320 per sq.ft (2024)
• Kalanchinathan Street: Rs 660 per sq.ft (2024)
• Kalpaga Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kaavya Garden Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kaavya Garden Annex?

The Sub Registrar Office that covers Kaavya Garden Annex is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padiyanallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government collects appropriate stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is transparent and fair, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kaavya Garden Annex?

The current guideline value of Kaavya Garden Annex is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 120% over this period.

What are the registration fees for property in Kaavya Garden Annex?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Where is the Sub Registrar Office for Kaavya Garden Annex located?

The Sub Registrar Office for Kaavya Garden Annex is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value for streets in Padiyanallur?

The median guideline value for streets in Padiyanallur is Rs 770 per sq.ft, with Kaavya Garden Annex being below this median at Rs 660 per sq.ft.