Guideline Value for KAVIMANI STREET (WARD -7)

Kavimani Street (Ward -7) guideline value

The current guideline value of Kavimani Street (Ward -7) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Peramanoor village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

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

The guideline value for Kavimani Street has undergone several revisions over the years. In the 2012 revision, 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 significant drop of 33%. Following this, the value increased to Rs 1,200 per sq.ft in the 2023 revision, and then rose again to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Kavimani Street's 2024 figure above this median.

• Kattapomman Salai (2nd Cross St): Rs 1,320 per sq.ft (2024)
• Kodikatha Kumaran 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Kodikatha Kumaran Street: Rs 1,320 per sq.ft (2024)
• Karumariamman Koil Street: Rs 550 per sq.ft (2024)
• Karumaan Kuttai: Rs 660 per sq.ft (2024)
• Kolatheswar Kovil Street (Kr): Rs 661 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total cost for these fees Rs 1,18,800. It is important to note that 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 details.

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

The Sub Registrar Office that covers Kavimani Street (Ward -7) is 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 Peramanoor

The guideline value plays a crucial role in property transactions in Peramanoor. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. This ensures that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value as it can impact the overall cost of the transaction. Understanding the guideline value can help in making informed decisions when engaging in property dealings.

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 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 1,200 per sq.ft in 2012, dropping to Rs 804 per sq.ft in 2017, then rising to Rs 1,200 per sq.ft in 2023, and finally reaching Rs 1,320 per sq.ft in 2024.

What is the land classification for Kavimani Street?

Kavimani Street is classified as Residential Special Type - V according to the land classification guidelines.

Where can I find the Sub Registrar Office for Kavimani Street?

The Sub Registrar Office for Kavimani Street (Ward -7) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Kavimani Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at 7%.