Guideline Value for KAVIYA NAGAR 1st STREET

KAVIYA NAGAR 1st STREET guideline value

The current guideline value of KAVIYA NAGAR 1st STREET is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO, classified as Residential Class III Type - III.

How the guideline value of KAVIYA NAGAR 1st STREET has changed

The guideline value for KAVIYA NAGAR 1st STREET has seen several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 250 per sq.ft. This figure increased significantly to Rs 1,500 per sq.ft in 2012, marking a 500% rise. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, which is a 7% increase from the 2012 revision.

Notably, the register has no figures for the years 2002, 2003, 2017, and 2023 for this street. Overall, from 2007 to 2024, the guideline value has increased by 540%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing KAVIYA NAGAR 1st STREET's value below this median.

• Kaviya Nagar: Rs 1,600 per sq.ft (2024)
• KAVIYA NAGAR 2nd STREET: Rs 1,600 per sq.ft (2024)
• KAVIYA NAGAR 3rd STREET: Rs 1,600 per sq.ft (2024)
• Kesava Avenue: Rs 2,100 per sq.ft (2024)
• Kattabomman Street (Kallikuppam): Rs 1,100 per sq.ft (2024)
• Kasthuri Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KAVIYA NAGAR 1st STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000, bringing the total fees together to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers KAVIYA NAGAR 1st STREET?

The Sub Registrar Office covering KAVIYA NAGAR 1st STREET 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 further assistance.

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

The guideline value plays a crucial role when buying or selling property in Korattur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value is often considered the minimum value for property transactions.

When registering a property, the guideline value ensures that the transaction is documented at a fair value, preventing undervaluation. This helps maintain transparency in property dealings and ensures compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of KAVIYA NAGAR 1st STREET?

The current guideline value of KAVIYA NAGAR 1st STREET is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 250 per sq.ft to Rs 1,600 per sq.ft in 2024, marking an overall increase of 540%.

What are the other streets in Korattur with the same guideline value?

Other streets in Korattur with the same guideline value of Rs 1,600 per sq.ft for 2024 include Kaviya Nagar 2nd STREET and KAVIYA NAGAR 3rd STREET.

Where is the Sub Registrar Office located for KAVIYA NAGAR 1st STREET?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, which covers KAVIYA NAGAR 1st STREET.

How is stamp duty calculated for properties in KAVIYA NAGAR 1st 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 16,00,000, the stamp duty at 7% would be Rs 1,12,000.