Guideline Value for KAVARI NAGAR

Kavari Nagar guideline value

The current guideline value of Kavari Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village under the Thiruvottiyur SRO and is classified as Residential Special Type - I.

How the guideline value of Kavari Nagar has changed

The guideline value for Kavari Nagar has seen several revisions over the years. In 2007, the guideline value was set at Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, it dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33% from the previous revision. The value then rose sharply to Rs 3,000 per sq.ft in 2023, and most recently, it increased by 10% to the current value of Rs 3,300 per sq.ft in 2024.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which matches the current guideline value for Kavari Nagar.

• Kattuponniamman Nagar(Ponniamman Nagar): Rs 1,500 per sq.ft (2024)
• Karunikar Street: Rs 3,300 per sq.ft (2024)
• Kg Shree Prem Vihar: Rs 4,500 per sq.ft (2024)
• Karnikar Street(Kannkar Street): Rs 3,300 per sq.ft (2024)
• Kannakkar Street: Rs 3,300 per sq.ft (2024)
• Kanakkar Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kavari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. 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 Kavari Nagar?

Kavari Nagar falls under the jurisdiction of the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvottiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When a buyer or seller registers a property, the guideline value is compared with the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, which must be paid at the time of registration.

Frequently asked questions

What is the current guideline value of Kavari Nagar?

The current guideline value of Kavari Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What are the stamp duty and registration fees for property in Kavari Nagar?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Kavari Nagar?

Kavari Nagar is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Kavari Nagar?

Kavari Nagar is classified as Residential Special Type - I, indicating its designation for residential purposes within the Thiruvottiyur area.