Guideline Value for KAVERI STREET

Kaveri Street guideline value

The current guideline value of Kaveri Street in Jelandianpettai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Kaveri Street has changed

The guideline value for Kaveri Street has seen several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft. This figure decreased significantly to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased by 49% to reach Rs 2,000 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, a rise of 10% from the previous year.

It is important to note that there are no figures available for Kaveri Street in the revisions for the years 2002, 2003, and 2007. The overall change from 2012 to 2024 shows a net increase of 10% in the guideline value.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value for the area is Rs 2,200 per sq.ft, which is equal to the current value for Kaveri Street.

• Kattapomman Street: Rs 2,200 per sq.ft (2024)
• Kayithamillath 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Kazhaikoothu Nagar: Rs 2,200 per sq.ft (2024)
• Kovalan Street: Rs 2,200 per sq.ft (2024)
• Kannaki Street: Rs 2,200 per sq.ft (2024)
• Kannadasan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kaveri Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaveri Street?

Kaveri Street 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 more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, thus influencing the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kaveri Street?

The current guideline value of Kaveri Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Kaveri Street?

Kaveri Street is classified as Residential Class II Type - I.

Where can I find the registration office for Kaveri Street?

The registration office covering Kaveri Street 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 are stamp duties calculated for properties in Jelandianpettai?

Stamp duties for properties in Jelandianpettai are calculated based on the guideline value or the sale price, whichever is higher. The rate is typically 7% for stamp duty and 2% for the registration fee.