Guideline Value for KAVIMANI STREET (WARD -7)

Kavimani Street (Ward -7) guideline value

The current guideline value of Kavimani Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - V.

How the guideline value of Kavimani Street (Ward -7) has changed

The guideline value for Kavimani Street has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 1,200 per sq.ft in 2023, which was a 49% rise from the 2017 figure.

The most recent revision in 2024 has set the guideline value at Rs 1,321 per sq.ft, reflecting a 10% increase from the previous year. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median value in this village is Rs 1,100 per sq.ft, placing Kavimani Street above this median.

• Kattapomman Salai (2nd Cross St): Rs 1,321 per sq.ft (2024)
• Kodikatha Kumaran 2nd Cross Street: Rs 1,321 per sq.ft (2024)
• Kodikatha Kumaran Street: Rs 1,321 per sq.ft (2024)
• Karumariamman Koil Street: Rs 660 per sq.ft (2024)
• Karumaan Kuttai: Rs 660 per sq.ft (2024)
• Kolatheswar Kovil Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kavimani Street (Ward -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, bringing the total cost for these fees to Rs 1,18,890. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kavimani Street (Ward -7)?

Kavimani Street (Ward -7) falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Ninna Karai. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a value recognized by the government.

When buying or selling property, the guideline value helps determine the legal and financial obligations of both parties. It is essential to be aware of the current guideline value to ensure compliance with local regulations during the property transaction process.

Frequently asked questions

What is the current guideline value of Kavimani Street (Ward -7)?

The current guideline value of Kavimani Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the land classification of Kavimani Street (Ward -7)?

Kavimani Street (Ward -7) is classified as Residential Special Type - V, indicating its designated use for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Kavimani Street (Ward -7)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 92,470.