Guideline Value for Kaivalyam Nagar

Kaivalyam Nagar guideline value

The current guideline value of Kaivalyam Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This locality is situated in Vadakal_C village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Kaivalyam Nagar has changed

The guideline value for Kaivalyam Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 550 per sq.ft, marking a significant increase of 10% from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The changes between the revisions indicate a substantial rise in the guideline value, particularly from 2017 to 2023, where the increase was 49%.

Guideline values in Vadakal_C

In Vadakal_C, there are 61 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 150 to Rs 1,500 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value of Kaivalyam Nagar is above this median, reflecting its positioning within the village.

• Kalaignar Nagar: Rs 200 per sq.ft (2024)
• Kalasethra Avenue: Rs 500 per sq.ft (2024)
• Jeyandran Nagar: Rs 400 per sq.ft (2024)
• Jemi Gardens: Rs 550 per sq.ft (2024)
• Jemi Garden Phase III: Rs 400 per sq.ft (2024)
• Jemi Garden Extension: Rs 550 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. It is important 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_C

The guideline value is a crucial factor when registering property transactions in Vadakal_C. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the transaction reflects a fair valuation according to the local real estate market.

When you buy or sell property, the guideline value helps determine the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Kaivalyam Nagar?

The current guideline value of Kaivalyam Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for Kaivalyam Nagar?

Kaivalyam Nagar is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

What is the registration office for Kaivalyam Nagar?

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

How do stamp duty and registration fees work in Kaivalyam Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 49,500, including both stamp duty and registration fees.