Guideline Value for KAVARAI ST

Kavarai St guideline value

The current guideline value of Kavarai St in Walajabad village, under the Walajabad SRO, is Rs 750 per sq.ft. This value is effective from the 2024 revision, which will be in place starting 1 July 2024. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kavarai St has changed

Over the years, the guideline value of Kavarai St has undergone several revisions. The 2012 revision set the value at Rs 750 per sq.ft, which remained unchanged in the subsequent 2017 revision, where it was lowered to Rs 502 per sq.ft. Following this, the 2023 revision brought the value back to Rs 750 per sq.ft, and the 2024 revision has kept it the same at Rs 750 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a significant increase of 49%. However, the change from the 2012 to 2017 revision saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has remained stable, showing no percentage change.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value is Rs 750 per sq.ft, which means Kavarai St's 2024 figure aligns with this median.

• Kavadikkara St: Rs 750 per sq.ft (2024)
• Kasukkara Street: Rs 750 per sq.ft (2024)
• Keezhandai Kodi Srteet: Rs 750 per sq.ft (2024)
• Karuppan Kovil Street: Rs 750 per sq.ft (2024)
• Kottivakkam Eri Street: Rs 750 per sq.ft (2024)
• Kannigapuram Second Cross Street: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Kavarai St

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty at 7% would be Rs 52,500, while the registration fee at 2% would be Rs 15,000, leading to a total of Rs 67,500. 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 Kavarai St?

Kavarai St is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Walajabad. It serves as a baseline for determining the stamp duty and registration fees when buying or selling property. This ensures that the government receives the appropriate revenue based on the property's assessed value.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring transparency and consistency in the registration process. Buyers and sellers should be aware of the guideline value to understand their financial obligations during a transaction.

Frequently asked questions

What is the current guideline value of Kavarai St?

The current guideline value of Kavarai St is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 750 per sq.ft from 2012 to 2024, with a notable decrease to Rs 502 per sq.ft in 2017, followed by a return to Rs 750 per sq.ft in 2023.

What is the land classification for Kavarai St?

Kavarai St is classified as Residential Class IV Type - I, which indicates its intended use for residential purposes.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kavarai St?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 750 per sq.ft, the stamp duty would be Rs 52,500.