Guideline Value for KAVARAI STREET(NORTH)

Kavarai Street(North) guideline value

The current guideline value of Kavarai Street(North) 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 is classified as Residential Class III Type - II.

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

Starting from the 2002 revision, the guideline value for Kavarai Street(North) was Rs 783 per sq.ft. This increased to Rs 874 per sq.ft in 2003, marking a rise of 12%. The value then saw a further increase of 14% to reach Rs 1,000 per sq.ft in 2007. In 2012, the guideline value was revised to Rs 4,500 per sq.ft, reflecting a significant increase of 350% from the previous revision. However, this value dropped by 33% to Rs 3,015 per sq.ft in 2017.

In the 2023 revision, the guideline value increased to Rs 4,500 per sq.ft, and then it rose by 11% to reach the current value of Rs 5,000 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 539%. There are no figures available for the revisions of years not mentioned in the register.

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. The median value for these streets is Rs 6,600 per sq.ft, placing Kavarai Street(North) below that median.

• Kavarai Street (South): 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(North)

For a 1,000 sq.ft plot at the current rate of Rs 5,000 per sq.ft, the guideline value would be 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, totaling 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kavarai Street(North)?

The Sub Registrar Office that covers Kavarai Street(North) 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 reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

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

The current guideline value of Kavarai Street(North) 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 significantly from Rs 783 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, showing an overall increase of 539% over the years.

What is the land classification for Kavarai Street(North)?

Kavarai Street(North) is classified as Residential Class III Type - II, indicating its suitability for residential purposes.

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

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

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot valued at Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000, leading to applicable stamp duty and registration fees.