Guideline Value for KAVERI NAGAR

Kaveri Nagar guideline value

The current guideline value of Kaveri Nagar, located in Thiruvanmiyur village under the Chennai South Joint I SRO, is Rs 9,900 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Kaveri Nagar has changed

The guideline value for Kaveri Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 9,000 per sq.ft, which then dropped to Rs 6,030 per sq.ft in 2017. Following this, the 2023 revision brought the value back up to Rs 9,000 per sq.ft, and the most recent 2024 revision increased it to Rs 9,900 per sq.ft. Notably, there are no figures available for this street in the revisions for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The latest revision from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from the 2012 to 2024 guideline values.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, which matches the current guideline value of Kaveri Nagar.

• Kaveri Street: Rs 11,000 per sq.ft (2024)
• Kasturibai Nagar 3rd Cross Street: Rs 11,000 per sq.ft (2024)
• Kasturi Bai Nagar: Rs 11,000 per sq.ft (2024)
• Karikalan Street: Rs 11,000 per sq.ft (2024)
• Kannappa Nagar Extn: Rs 8,250 per sq.ft (2024)
• Kannappa Nagar 4th Street: Rs 8,250 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 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, while the registration fee at 2% would be Rs 1,98,000. Together, the total cost for stamp duty and registration would be Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers Kaveri Nagar?

Kaveri Nagar is covered by 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 further assistance.

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

The guideline value is a critical factor when registering property transactions in Thiruvanmiyur. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the government's valuation of the property.

When buying or selling property, the guideline value helps to establish a fair price for the transaction, providing a standardized measure that both buyers and sellers can rely on during negotiations and legal processes.

Frequently asked questions

What is the current guideline value of Kaveri Nagar?

The current guideline value of Kaveri Nagar is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 9,000 per sq.ft in 2012 to Rs 6,030 per sq.ft in 2017, then back to Rs 9,000 in 2023, and finally to Rs 9,900 in 2024. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification of Kaveri Nagar?

Kaveri Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 99,00,000, the total fees would be Rs 8,91,000.

Where can I find the Sub Registrar Office for Kaveri Nagar?

The Sub Registrar Office covering Kaveri Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.