Guideline Value for KAVITHA STREET (U.R.NAGAR)

Kavitha Street (U.R.Nagar) guideline value

The current guideline value of Kavitha Street (U.R.Nagar) is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO and is classified as Residential Class II Type - III.

How the guideline value of Kavitha Street (U.R.Nagar) has changed

The guideline value for Kavitha Street (U.R.Nagar) has undergone several revisions over the years. The 2012 revision set the value at Rs 6,000 per sq.ft, which then decreased to Rs 4,020 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 6,000 per sq.ft, reflecting a change of 49%. The latest revision in 2024 has raised the guideline value to Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

Please note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO with a 2024 guideline value range from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, placing Kavitha Street (U.R.Nagar) above this median.

• Karunanithi Street (U.R.Nagar): Rs 6,600 per sq.ft (2024)
• Karumariamman Koil Street (U.R.Nagar): Rs 6,600 per sq.ft (2024)
• Kanniappan Street (U.R.Nagar): Rs 6,600 per sq.ft (2024)
• Kumaran Nagar: Rs 3,800 per sq.ft (2024)
• Kambar Street: Rs 3,400 per sq.ft (2024)
• Kumaran Nagar Ext - I: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kavitha Street (U.R.Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is important to 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 information.

Which Sub Registrar Office covers Kavitha Street (U.R.Nagar)?

The Sub Registrar Office that covers Kavitha Street (U.R.Nagar) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Padi. It serves as a benchmark for determining the minimum sale price of a property, ensuring that transactions are conducted at a fair value as per government regulations.

During the registration process, the guideline value is used to calculate stamp duty and registration fees. Buyers must pay these fees based on the higher value between the guideline value and the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Kavitha Street (U.R.Nagar)?

The current guideline value of Kavitha Street (U.R.Nagar) is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2012 to Rs 4,020 per sq.ft in 2017, then increased to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024.

What is the land classification for Kavitha Street (U.R.Nagar)?

Kavitha Street (U.R.Nagar) is classified as Residential Class II Type - III according to the local regulations.

Where can I find the registration office for Kavitha Street (U.R.Nagar)?

The registration office covering Kavitha Street (U.R.Nagar) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Padi?

Stamp duty is calculated based on the higher value between the guideline value and the actual sale price of the property. For example, a property valued at Rs 66,00,000 would incur a stamp duty of Rs 4,62,000 at a rate of 7%.