Guideline Value for KAVIYA CITY

Kaviya City guideline value

The current guideline value of Kaviya City, located in Perumanallur village under the Pallipattu SRO, is Rs 106 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kaviya City has changed

The guideline value for Kaviya City has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 47 per sq.ft. This figure increased significantly to Rs 100 per sq.ft in the 2023 revision, marking a change of 113%. The most recent revision in 2024 has further increased the guideline value to Rs 106 per sq.ft, which represents a 6% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 126%. It is important to note that there are no recorded figures for Kaviya City in the revisions of 2002, 2003, 2007, and 2012.

Guideline values in Perumanallur

In Perumanallur, there are three streets under the Pallipattu SRO that carry a guideline value of Rs 106 per sq.ft for 2024. The median value for these streets is also Rs 106 per sq.ft, placing Kaviya City at the same level as the median. The other streets in Perumanallur are as follows:

• Shanthi Nagar: Rs 106 per sq.ft (2024)
• Sri Ganapathi Puram: Rs 106 per sq.ft (2024)

Stamp duty and registration fee for property in Kaviya City

For a 1,000 sq.ft plot in Kaviya City at the current guideline value of Rs 106 per sq.ft, the total guideline value amounts to Rs 1,06,000. The stamp duty, charged at 7%, would be Rs 7,420, while the registration fee at 2% would be Rs 2,120. Therefore, the total cost for stamp duty and registration fees would be Rs 9,540. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaviya City?

The Kaviya City area falls under the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Perumanallur. It serves as a benchmark for determining the minimum value of the property for the purpose of calculating stamp duty and registration fees. Buyers and sellers must be aware of this value to ensure compliance with legal requirements.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kaviya City?

The current guideline value of Kaviya City is Rs 106 per sq.ft, effective from the 2024 revision starting on 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 47 per sq.ft in 2017 to Rs 106 per sq.ft in 2024, which is an overall increase of 126%. The value increased by 113% from 2017 to 2023 and by 6% from 2023 to 2024.

What are the stamp duty and registration fees for property in Kaviya City?

For a 1,000 sq.ft plot at the current guideline value of Rs 106 per sq.ft, the total guideline value is Rs 1,06,000. The stamp duty would be Rs 7,420 and the registration fee would be Rs 2,120, totaling Rs 9,540.

Which Sub Registrar Office covers Kaviya City?

Kaviya City is covered by the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors including land classification. It is revised periodically to reflect changes in the real estate market and is used to calculate stamp duty and registration fees during property transactions.