Guideline Value for Kaivalyam Nagar

Kaivalyam Nagar guideline value

The current guideline value of Kaivalyam Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Vadakal village under the Sriperumpudur SRO and is classified as Residential Special Type - II.

How the guideline value of Kaivalyam Nagar has changed

The guideline value for Kaivalyam Nagar has seen several revisions over the years. In 2007, the value was Rs 160 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it decreased to Rs 335 per sq.ft in 2017. The 2023 revision maintained the value at Rs 500 per sq.ft. The current revision in 2024 has kept the guideline value unchanged at Rs 500 per sq.ft, reflecting a 0% change from the previous year.

Looking at the changes, from 2017 to 2023, there was a significant increase of 49%. The jump from 2007 to 2012 was a substantial 213%. Overall, from 2007 to 2024, the guideline value has increased by 213%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vadakal

In Vadakal village, there are 31 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing Kaivalyam Nagar's 2024 figure above this median.

• Kalaignar Nagar: Rs 200 per sq.ft (2024)
• Jemi Garden Phase III: Rs 400 per sq.ft (2024)
• Iswaryam Nagar: Rs 800 per sq.ft (2024)
• Kari Vinayagar Nagar: Rs 200 per sq.ft (2024)
• Kayathiri Nagar: Rs 550 per sq.ft (2024)
• Green Park: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Kaivalyam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, while the registration fee at 2% would be Rs 10,000, bringing the total cost to Rs 45,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaivalyam Nagar?

The Sub Registrar Office that covers Kaivalyam Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vadakal. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration.

When a property is sold, the guideline value is compared with the sale price, and the duty is charged on the higher of the two amounts. This ensures that the state collects appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kaivalyam Nagar?

The current guideline value of Kaivalyam Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 maintaining the value at Rs 500 per sq.ft. The value increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, showing a 49% increase.

What is the classification of land in Kaivalyam Nagar?

Kaivalyam Nagar is classified as Residential Special Type - II, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Kaivalyam Nagar?

The Sub Registrar Office for Kaivalyam Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated in Kaivalyam Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property with a guideline value of Rs 5,00,000, the stamp duty at 7% would be Rs 35,000.