Guideline Value for Kulaswamini Ligasan Madha Nagar

Kulaswamini Ligasan Madha Nagar guideline value

The current guideline value of Kulaswamini Ligasan Madha Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Thirumudivakkam village under the Padappai SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Kulaswamini Ligasan Madha Nagar has changed

The guideline value for Kulaswamini Ligasan Madha Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and currently, it stands at Rs 660 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 3,860 per sq.ft, with a median value of Rs 1,320 per sq.ft. Kulaswamini Ligasan Madha Nagar's 2024 figure is below this median.

• Kundrathur Road: Rs 1,320 per sq.ft (2024)
• Lakshmi Avenue: Rs 1,320 per sq.ft (2024)
• Lakshmi Nagar: Rs 660 per sq.ft (2024)
• Mahadevan Street: Rs 1,320 per sq.ft (2024)
• Maha Kavi Bharathi Nagar: Rs 1,320 per sq.ft (2024)
• Mahalakshmi Avenue: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kulaswamini Ligasan Madha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value is Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, leading to a total of Rs 59,400. It is important to note that 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 Kulaswamini Ligasan Madha Nagar?

Kulaswamini Ligasan Madha Nagar is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumudivakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs reflect the official valuation of the property.

When a property is sold, the guideline value is used to determine the applicable duties, which are charged on the higher of the guideline value or the sale price. This ensures that the transaction is registered accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kulaswamini Ligasan Madha Nagar?

The current guideline value of Kulaswamini Ligasan Madha Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, with a notable increase from Rs 402 per sq.ft in 2017 to Rs 660 per sq.ft in 2024. The value has seen various revisions, including a decrease between 2012 and 2017.

What are the stamp duty and registration fees for properties in this area?

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. These fees are based on the guideline value and the sale price.

Which office handles property registration for Kulaswamini Ligasan Madha Nagar?

The Padappai Sub Registrar Office handles property registration for Kulaswamini Ligasan Madha Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value is significant in property transactions as it determines the stamp duty and registration fees. It acts as a benchmark for property valuation, ensuring that the registration process is conducted in accordance with local laws.