Guideline Value for KALVIVARU STREET

Kalvivaru Street guideline value

The current guideline value of Kalvivaru Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class I Type - III.

How the guideline value of Kalvivaru Street has changed

The guideline value of Kalvivaru Street has seen significant changes over the years. In 2002, the guideline value was Rs 1,514 per sq.ft, which increased to Rs 1,682 per sq.ft in 2003, marking an 11% rise. The value then rose to Rs 1,750 per sq.ft in 2007, a 4% increase. The most substantial jump occurred between 2007 and 2012, where the value surged to Rs 13,000 per sq.ft, reflecting a 643% increase. The 2024 revision shows a further increase to Rs 14,300 per sq.ft, which is a 10% rise from the 2012 figure.

The register does not have figures for the years 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 845%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Kalvivaru Street's 2024 figure above this median.

• KALVAIKARAI SALAI (Nadukuppam South Side): Rs 3,300 per sq.ft (2024)
• Kalvaikarai Salai: Rs 8,200 per sq.ft (2024)
• Kallukkaran Street: Rs 7,100 per sq.ft (2024)
• Kalingarayan Street: Rs 4,900 per sq.ft (2024)
• Kamarajar Salai: Rs 15,900 per sq.ft (2024)
• Kakanji Nagar: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kalvivaru Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value would be Rs 1,43,00,000. The stamp duty at 7% would amount to Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, leading to a total of Rs 12,87,000. 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 Kalvivaru Street?

The Sub Registrar Office that covers Kalvivaru Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value plays a critical role in property transactions in Mylapore. It is used to determine the stamp duty and registration fees that are payable during the registration of property transactions. Buyers and sellers must consider this value as it directly influences the costs associated with buying or selling property in the area.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives due revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Kalvivaru Street?

The current guideline value of Kalvivaru Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,514 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, which is an overall increase of 845%.

What is the land classification for Kalvivaru Street?

Kalvivaru Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Kalvivaru Street?

The Mylapore Sub Registrar Office, which covers Kalvivaru Street, is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for properties in Kalvivaru Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 1,43,00,000, the stamp duty would be Rs 10,01,000 at 7%.