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 Sattamangalam 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

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. It then decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. Following this, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and further rose to Rs 1,320 per sq.ft in the 2024 revision, reflecting a change of 10% between these two years. The register has no figure for this street in the revisions of 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%, highlighting the fluctuations in the property values over the years.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. Kavimani Street's 2024 figure of Rs 1,320 per sq.ft is 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 440 per sq.ft (2024)
• Karumaan Kuttai: Rs 550 per sq.ft (2024)
• Kolatheswar Kovil Street (Kr): 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 1,320 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 fees together Rs 1,18,800. 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 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 Sattamangalam

The guideline value plays a crucial role in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in accordance with the official rates set by the authorities.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that both the government and the buyer are aware of the property's official value during the transaction.

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 various changes, from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increasing 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?

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

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

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 1,18,800.