Guideline Value for KAVIMANI STREET/ALL STREET

Kavimani Street/All Street guideline value

The current guideline value of Kavimani Street/All Street in Pallikaranai 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 IV Type - I.

How the guideline value of Kavimani Street/All Street has changed

The guideline value for Kavimani Street/All Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,650 per sq.ft as per the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which aligns with the current value for Kavimani Street/All Street.

• Kavimani Cross Street: Rs 1,650 per sq.ft (2024)
• Kavimani Street Extension: Rs 1,650 per sq.ft (2024)
• Kavimani 3rd Street: Rs 1,650 per sq.ft (2024)
• Kavimani Street First V.G.P. Shanthi Nagar (Geroge Avenue): Rs 1,650 per sq.ft (2024)
• Kavimani 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Kavimani Street First Thulukanathamman Koil P.G: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kavimani Street/All 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 cost to Rs 1,48,500. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kavimani Street/All Street?

The Sub Registrar Office that covers Kavimani Street/All Street is 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 Pallikaranai

The guideline value is a crucial factor in the registration process when buying or selling properties in Pallikaranai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Kavimani Street/All Street?

The current guideline value of Kavimani Street/All 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 changes, with the most recent increase of 10% from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024. The value decreased from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017 before increasing again.

What is the land classification for Kavimani Street/All Street?

Kavimani Street/All Street is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for this street?

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

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.