Guideline Value for KAVITHA STREET

Kavitha Street guideline value

The current guideline value of Kavitha Street in Arumbakkam village, under the Kodambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - II land classification.

How the guideline value of Kavitha Street has changed

The guideline value for Kavitha Street has seen several revisions over the years. The earliest recorded figure is from 2003, with a guideline value of Rs 455 per sq.ft. This increased to Rs 850 per sq.ft in 2007, marking a significant rise of 87%. The value then surged to Rs 4,000 per sq.ft in 2012, reflecting a remarkable increase of 371%. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. In the following years, the value rose again to Rs 4,000 per sq.ft in 2023, and finally increased to Rs 4,400 per sq.ft in 2024, showing a 10% increase from the previous year.

The register does not have a figure for Kavitha Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 867%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 6,000 per sq.ft, placing Kavitha Street's 2024 figure below this median.

• Kolaperumal School Street: Rs 7,100 per sq.ft (2024)
• Krishnamurthy Street: Rs 3,300 per sq.ft (2024)
• Kannayiram Street: Rs 3,300 per sq.ft (2024)
• Kannappan Nagar: Rs 5,300 per sq.ft (2024)
• Kannan Bala Nagar: Rs 5,500 per sq.ft (2024)
• Kannaki Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kavitha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 detailed calculations.

Which Sub Registrar Office covers Kavitha Street?

Kavitha Street is covered by the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Arumbakkam. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must consider this value as it impacts the overall cost of the transaction.

At the time of registration, the guideline value is compared with the sale price of the property, and the duty is charged on the higher of the two amounts. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kavitha Street?

The current guideline value of Kavitha Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Kavitha Street has changed significantly, from Rs 455 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 867%.

What is the land classification of Kavitha Street?

Kavitha Street is classified as Residential Class IV Type - II under the Kodambakkam SRO.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Kavitha 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 44,00,000, the stamp duty at 7% would be Rs 3,08,000.