Guideline Value for KAVERI NAGAR

Kaveri Nagar guideline value

The current guideline value of Kaveri Nagar, located in Karambakkam village, is Rs 2,480 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Kaveri Nagar has changed

The guideline value for Kaveri Nagar has seen significant changes over the years. In 2002, the value was Rs 244 per sq.ft, which increased to Rs 281 per sq.ft in 2003, marking a rise of 15%. The value then experienced a substantial increase to Rs 500 per sq.ft in 2007, representing a 78% growth. Following this, the value surged to Rs 2,250 per sq.ft in 2012, an increase of 350%. However, from 2012 to 2017, the value decreased to Rs 1,507 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 2,250 per sq.ft in 2023, before reaching the current figure of Rs 2,480 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 916%. It is important to note that there are no figures available for the revisions of years not listed for this street.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft, with a median value of Rs 1,930 per sq.ft. Kaveri Nagar's current guideline value is above this median.

• Kaveri Nagar 1st Street: Rs 2,480 per sq.ft (2024)
• Kaveri Nagar 2nd Street: Rs 2,480 per sq.ft (2024)
• Kaveri Nagar 3rd Street: Rs 2,480 per sq.ft (2024)
• Kaveri Nagar Main Road: Rs 2,480 per sq.ft (2024)
• K.K.R. Garden: Rs 1,930 per sq.ft (2024)
• Karambakkam Bramin Street: Rs 2,480 per sq.ft (2024)

Stamp duty and registration fee for property in Kaveri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,480 per sq.ft, the total guideline value would be Rs 24,80,000. The stamp duty at 7% would amount to Rs 1,73,600, and the registration fee at 2% would be Rs 49,600, making the total cost for these fees Rs 2,23,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaveri Nagar?

Kaveri Nagar falls under the jurisdiction of the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Karambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded at a value that reflects the current market conditions as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Kaveri Nagar?

The current guideline value of Kaveri Nagar is Rs 2,480 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 244 per sq.ft in 2002 to Rs 2,480 per sq.ft in 2024, representing an overall increase of 916% over this period.

What is the land classification of Kaveri Nagar?

Kaveri Nagar is classified as Residential Class II Type - I, which indicates its designation for residential use.

Where can I find the registration office for Kaveri Nagar?

The registration office for Kaveri Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Kaveri Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,80,000, the stamp duty at 7% would be Rs 1,73,600.