Guideline Value for Kalaiyarasi Garden

Kalaiyarasi Garden guideline value

The current guideline value of Kalaiyarasi Garden is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village, under the Gooduvancheri SRO, classified as Residential Special Type - II.

How the guideline value of Kalaiyarasi Garden has changed

The guideline value for Kalaiyarasi Garden has seen several revisions over the years. In 2007, the guideline value was Rs 250 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a 260% rise. However, it then decreased to Rs 603 per sq.ft in 2017, a drop of 33%. The value rose to Rs 900 per sq.ft again in 2023, and most recently, it has increased to Rs 990 per sq.ft in 2024, showing a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 296%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Mannivakkam

Mannivakkam has a total of 118 streets under the Gooduvancheri SRO, with guideline values in 2024 ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,215 per sq.ft, indicating that the guideline value for Kalaiyarasi Garden is below this median.

• Kalaivanar Nagar: Rs 990 per sq.ft (2024)
• Kalyani garden: Rs 990 per sq.ft (2024)
• Kalaignar Street: Rs 1,320 per sq.ft (2024)
• Jothiram Avenue: Rs 990 per sq.ft (2024)
• Kanimozhi Aravindan Nagar: Rs 1,320 per sq.ft (2024)
• Jeyam Avenue: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaiyarasi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800, bringing the total to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaiyarasi Garden?

The Sub Registrar Office that covers Kalaiyarasi Garden is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Mannivakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when acquiring property.

When a property is sold, the guideline value is often used to assess the official value of the property for taxation purposes. This ensures that the government receives the appropriate revenue from property transactions based on established values.

Frequently asked questions

What is the current guideline value of Kalaiyarasi Garden?

The current guideline value of Kalaiyarasi Garden is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 296% over the years.

What is the median guideline value for streets in Mannivakkam?

The median guideline value for streets in Mannivakkam is Rs 1,215 per sq.ft, with Kalaiyarasi Garden's value being below this median.

What are the stamp duty and registration fees for Kalaiyarasi Garden?

The stamp duty is 7% and the registration fee is 2% of the guideline value, which for a 1,000 sq.ft plot amounts to a total of Rs 89,100.

Which office handles the registration for Kalaiyarasi Garden?

The Gooduvancheri Sub Registrar Office handles the registration for Kalaiyarasi Garden, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202.