Guideline Value for Cavin Avenue

Cavin Avenue guideline value

The current guideline value of Cavin Avenue is Rs 700 per sq.ft. This street is located in Karanaipuducheri village, under the Gooduvancheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Cavin Avenue has changed

Looking at the revisions, the guideline value for Cavin Avenue has seen several changes over the years. In 2007, the value was Rs 230 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012, marking a rise of 204%. However, from 2012 to 2017, the value decreased by 33% to Rs 469 per sq.ft. The value then rose again to Rs 700 per sq.ft in 2023, and it remained unchanged at this rate in the 2024 revision.

The 2024 revision shows that the guideline value is Rs 700 per sq.ft, which is the same as the previous year. Notably, there are no figures available for Cavin Avenue in the 2002 and 2003 revisions.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,239 per sq.ft, with a median value of Rs 802 per sq.ft. The guideline value for Cavin Avenue is below this median.

• Brindhavana Avenue: Rs 1,400 per sq.ft (2024)
• Devanshi Nagar: Rs 1,200 per sq.ft (2024)
• Dhamodara Nagar: Rs 700 per sq.ft (2024)
• Balaji Nagar-I & II: Rs 701 per sq.ft (2024)
• Dharsan Aalayam: Rs 1,200 per sq.ft (2024)
• Dilshath Nagar: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Cavin Avenue

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value would be Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. 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 Cavin Avenue?

The Sub Registrar Office that covers Cavin Avenue 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 Karanaipuducheri

The guideline value is a crucial factor in the registration process when buying or selling property in Karanaipuducheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a legally recognized value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the registration of the property. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Cavin Avenue?

The current guideline value of Cavin Avenue is Rs 700 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 230 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and returned to Rs 700 per sq.ft in 2023 and 2024.

What is the land classification for Cavin Avenue?

Cavin Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Cavin Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.