Guideline Value for KAVARAI PALAYAM

Kavarai Palayam guideline value

The current guideline value of Kavarai Palayam, located in Thandurai village under the Avadi SRO, is Rs 800 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Kavarai Palayam has changed

The guideline value for Kavarai Palayam has seen several revisions over the years. In 2002, the value was Rs 81 per sq.ft, which increased to Rs 93 per sq.ft in 2003, marking a 15% rise. By 2007, the value had further increased to Rs 386 per sq.ft, reflecting a significant 315% change. The 2012 revision set the value at Rs 800 per sq.ft, which was a 107% increase from the previous figure. In 2017, the value dropped to Rs 536 per sq.ft, showing a decrease of 33%. The most recent revisions in 2023 and 2024 both maintain the guideline value at Rs 800 per sq.ft, indicating no change between these two years.

Overall, from 2002 to 2024, the guideline value has increased by 888%. There are no figures available for the years not listed in the register for Kavarai Palayam.

Guideline values in Thandurai

In Thandurai village, there are 331 streets under the Avadi SRO that carry a guideline value for 2024, ranging from Rs 800 to Rs 2,640 per sq.ft, with a median value of Rs 988 per sq.ft. The guideline value for Kavarai Palayam is below this median.

• Kennady St, Kakkanji Nagar: Rs 800 per sq.ft (2024)
• K.M.Babu St (Charless Nagar): Rs 1,300 per sq.ft (2024)
• Kovalan St, Kakkanji Nagar: Rs 800 per sq.ft (2024)
• Kannagi Street, Kakkanji Nagar: Rs 1,300 per sq.ft (2024)
• Kannagi St, (Ambedkar Nagar): Rs 1,300 per sq.ft (2024)
• Kannadasan Street: Rs 988 per sq.ft (2024)

Stamp duty and registration fee for property in Kavarai Palayam

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, making the total charges Rs 72,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kavarai Palayam?

The Sub Registrar Office that covers Kavarai Palayam is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thandurai. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of a property. Buyers and sellers must be aware of the guideline value to ensure they comply with the legal requirements during registration.

When a property is sold, 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 the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Kavarai Palayam?

The current guideline value of Kavarai Palayam is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 81 per sq.ft in 2002 to Rs 800 per sq.ft in 2024, reflecting an overall increase of 888% over the years.

What is the land classification for Kavarai Palayam?

Kavarai Palayam is classified as Residential Class II Type - II.

What are the stamp duty rates for property in Kavarai Palayam?

The stamp duty rate for property transactions in Kavarai Palayam is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kavarai Palayam?

The Sub Registrar Office for Kavarai Palayam is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.