Guideline Value for KAVARAI STREET (SOUTH)

Kavarai Street (South) guideline value

The current guideline value of Kavarai Street (South) is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village under the Thiyagaraya nagar SRO, and it falls under the Residential Class III Type - II land classification.

How the guideline value of Kavarai Street (South) has changed

The guideline value for Kavarai Street (South) has seen several revisions over the years. In 2002, the guideline value was Rs 557 per sq.ft, which increased to Rs 618 per sq.ft in 2003. Following that, there was a significant rise to Rs 1,000 per sq.ft in 2007, and then a further increase to Rs 4,500 per sq.ft in 2012. However, there was a decrease to Rs 3,015 per sq.ft in 2017, before climbing to Rs 4,500 per sq.ft in 2023, and finally reaching Rs 5,000 per sq.ft in 2024.

Between the revisions, the most notable changes include a 350% increase from 2007 to 2012, and a 49% rise from 2017 to 2023. The overall increase from 2002 to 2024 is 798%. There are no years in the register with figures missing for Kavarai Street (South).

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value for Kavarai Street (South) is below this median.

• Kavarai Street (North): Rs 5,000 per sq.ft (2024)
• Kavarai Street (West): Rs 5,000 per sq.ft (2024)
• Kaveri Nagar 2st Cross Street: Rs 5,000 per sq.ft (2024)
• Kaveri Nagar 3st Cross Street: Rs 5,000 per sq.ft (2024)
• Kaveri Nagar 4th Cross Street: Rs 5,000 per sq.ft (2024)
• Kaveri Nagar Ist Cross Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kavarai Street (South)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, making the total cost for these fees Rs 4,50,000. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kavarai Street (South)?

The Sub Registrar Office that covers Kavarai Street (South) is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mambalam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives the appropriate stamp duty and registration fees based on the guideline value.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with registration regulations. The fees are calculated based on this value or the sale price, whichever is higher, ensuring a transparent process in property transactions.

Frequently asked questions

What is the current guideline value of Kavarai Street (South)?

The current guideline value of Kavarai Street (South) is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 557 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 798% over this period.

What is the land classification of Kavarai Street (South)?

Kavarai Street (South) falls under the Residential Class III Type - II land classification.

Where can I find the Sub Registrar Office for Kavarai Street (South)?

The Sub Registrar Office for Kavarai Street (South) is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is the stamp duty calculated for properties in Kavarai Street (South)?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000.