Guideline Value for KAVERI STREET

Kaveri Street guideline value

The current guideline value of Kaveri Street in Thiruvanmiyur village is Rs 11,000 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Special Type - II.

How the guideline value of Kaveri Street has changed

Over the years, the guideline value of Kaveri Street has seen significant changes. In 2002, the guideline value was Rs 1,571 per sq.ft. This increased to Rs 1,738 per sq.ft in 2003, marking a rise of 11%. The value then increased to Rs 1,800 per sq.ft in 2007, reflecting a 4% change. A substantial increase occurred in 2012 when the value jumped to Rs 10,000 per sq.ft, representing a 456% rise. However, the value decreased to Rs 6,700 per sq.ft in 2017, showing a decline of 33%. The guideline value then rose to Rs 10,000 per sq.ft in 2023, before reaching the current figure of Rs 11,000 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2002 to 2024, the overall increase in the guideline value is 600%. The register has no figures for the years not mentioned in the list, ensuring that all changes are accounted for accurately.

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, placing Kaveri Street's 2024 figure above this median.

• Kaveri Nagar: Rs 9,900 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)
• Kottivakkam Kuppam Road: Rs 12,660 per sq.ft (2024)
• Kannappa Nagar Extn: Rs 8,250 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 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total charges to Rs 9,90,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When a buyer or seller engages in a transaction, the guideline value is used to calculate the applicable charges. This ensures that the registration process is standardized and transparent, reflecting the official value assigned to the property.

Frequently asked questions

What is the current guideline value of Kaveri Street?

The current guideline value of Kaveri Street is Rs 11,000 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 1,571 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, with various increases and a notable decrease in 2017.

What is the land classification for Kaveri Street?

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

What are the stamp duty and registration fees for a property on Kaveri Street?

For a 1,000 sq.ft property at Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000, with stamp duty and registration fees totaling Rs 9,90,000.

Where is the Sub Registrar Office for Kaveri Street located?

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