Guideline Value for KAVARAI STREET WARD- 2

Kavarai Street Ward- 2 guideline value

The current guideline value of Kavarai Street Ward- 2 is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Natham village and falls under the Chengleput Joint II SRO. The land classification for this area is Mixed Type - II.

How the guideline value of Kavarai Street Ward- 2 has changed

Over the years, the guideline value for Kavarai Street Ward- 2 has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,206 per sq.ft, marking a decrease of 33%. The 2023 revision saw a significant increase to Rs 1,800 per sq.ft, and the latest 2024 revision further raised it to Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, indicating that Kavarai Street Ward- 2's 2024 figure is below that median.

• Kavarai Street Ward-4: Rs 1,980 per sq.ft (2024)
• Kathan Street: Rs 1,980 per sq.ft (2024)
• Kesavanar Street: Rs 1,980 per sq.ft (2024)
• Kolunthuyamman Kovil Street: Rs 3,850 per sq.ft (2024)
• Karimedu: Rs 1,100 per sq.ft (2024)
• Kancheepuram High Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kavarai Street Ward- 2

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is essential 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 Kavarai Street Ward- 2?

The Sub Registrar Office that covers Kavarai Street Ward- 2 is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chengalpattu Natham. It serves as the basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the guideline value helps determine the minimum price at which the property must be registered. This ensures transparency and fairness in property transactions, as both buyers and sellers are aware of the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Kavarai Street Ward- 2?

The current guideline value of Kavarai Street Ward- 2 is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,980 per sq.ft in 2024. Notably, it decreased to Rs 1,206 per sq.ft in 2017 before increasing again in subsequent revisions.

What is the land classification for Kavarai Street Ward- 2?

The land classification for Kavarai Street Ward- 2 is Mixed Type - II, indicating a diverse use of land in this area.

What are the stamp duty and registration fees for properties in Kavarai Street Ward- 2?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For example, a 1,000 sq.ft plot at the current rate would incur total fees of Rs 1,78,200.

Where can I find the Sub Registrar Office for Kavarai Street Ward- 2?

The Chengleput Joint II Sub Registrar Office covers Kavarai Street Ward- 2 and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details online.