Guideline Value for KAVERI NAGAR

Kaveri Nagar guideline value

The current guideline value of Kaveri Nagar, located in Koladi village under the Chennai South Joint II SRO, is Rs 660 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - III land classification.

How the guideline value of Kaveri Nagar has changed

Over the years, the guideline value of Kaveri Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 300 per sq.ft. This increased to Rs 600 per sq.ft in 2012, marking a significant rise of 100%. However, it then decreased to Rs 402 per sq.ft in 2017, a drop of 33%. The next revision in 2023 saw the value increase to Rs 600 per sq.ft, and the most recent revision in 2024 has raised it further to Rs 660 per sq.ft, reflecting a 10% increase.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2007 to 2024, the guideline value has increased by 120%. It is important to note that there are no figures recorded for Kaveri Nagar in the years 2002 and 2003.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which means Kaveri Nagar's 2024 figure is below this median.

• Karumariamman Nagar Anexue 1st And 2nd Street: Rs 880 per sq.ft (2024)
• Karumariamman Nagar 3rd Street 1,2,3 Cross: Rs 880 per sq.ft (2024)
• Karumariamman Nagar 3rd Street: Rs 880 per sq.ft (2024)
• Karumariamman Nagar 2nd Street: Rs 880 per sq.ft (2024)
• Karumariamman 4th Street 1,2 Cross: Rs 880 per sq.ft (2024)
• Karumariamman 4th Street: Rs 880 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. 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 information.

Which Sub Registrar Office covers Kaveri Nagar?

Kaveri Nagar falls under the Chennai South Joint II Sub Registrar Office, located at the 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 Koladi

The guideline value plays a crucial role during the registration process of buying or selling property in Koladi. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared with the sale price. The higher of the two is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Kaveri Nagar?

The current guideline value of Kaveri Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 300 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, which is an overall increase of 120%.

What is the land classification of Kaveri Nagar?

Kaveri Nagar is classified as Residential Class II Type - III, indicating its use for residential purposes.

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

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which Sub Registrar Office covers Kaveri Nagar?

Kaveri Nagar is covered by the Chennai South Joint II Sub Registrar Office, located at the Integrated Building for Offices of the Commercial Taxes and Registrations Department, Fanepet Nandanam, Chennai - 600 035.