Guideline Value for KAVERI STREET

Kaveri Street guideline value

The current guideline value of Kaveri Street in Kolathuvancheri village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Kaveri Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. The value then increased significantly to Rs 1,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% rise from the previous year. Overall, from 2012 to 2024, the guideline value increased by 10%.

The changes between the revisions show a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for Kaveri Street.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 660 to Rs 4,600 per sq.ft. The median value is Rs 1,650 per sq.ft, making Kaveri Street's value equal to this median.

• Kesavarthini Nagar: Rs 2,200 per sq.ft (2024)
• Kesavarthini Nagar 10th Cross Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 1st Main Road: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Kesavarthini Nagar 2nd Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kaveri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. 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 accurate calculations based on your property details.

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. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Kolathuvancheri. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value must be considered as it directly impacts the financial obligations of both parties. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can significantly affect the total 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 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase being from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, a 10% rise.

What is the land classification of Kaveri Street?

Kaveri Street is classified as Residential Class III Type - I under the Chennai South Joint I SRO.

What are the stamp duty rates applicable for properties in Kaveri Street?

The stamp duty for properties in Kaveri Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kaveri Street located?

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