Guideline Value for KAVIYA NAGAR 2nd STREET

KAVIYA NAGAR 2nd STREET guideline value

The current guideline value of KAVIYA NAGAR 2nd 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. The land classification for this area is Residential Class III Type - III.

How the guideline value of KAVIYA NAGAR 2nd STREET has changed

The guideline value for KAVIYA NAGAR 2nd STREET has undergone several revisions over the years. The earliest recorded value was Rs 250 per sq.ft in 2007. This figure saw a significant increase to Rs 1,500 per sq.ft in 2012, marking a 500% rise. However, there are no recorded figures for the years 2002, 2003, 2017, and 2023 for this street.

As of the latest revision in 2024, the guideline value has further increased to Rs 1,600 per sq.ft, reflecting a 7% increase from the 2012 figure. 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, with a median value of Rs 2,500 per sq.ft. KAVIYA NAGAR 2nd STREET's 2024 guideline value is below this median.

• KAVIYA NAGAR 1st STREET: Rs 1,600 per sq.ft (2024)
• KAVIYA NAGAR 3rd STREET: Rs 1,600 per sq.ft (2024)
• Kaviya Nagar: 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 2nd STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value is 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. Together, the total cost for stamp duty and registration would be Rs 1,44,000. 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 details.

Which Sub Registrar Office covers KAVIYA NAGAR 2nd STREET?

The Sub Registrar Office that covers KAVIYA NAGAR 2nd 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 more information.

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

The guideline value is a crucial factor in property transactions in Korattur. It is used to determine the stamp duty and registration fees that a buyer must pay when purchasing a property. The guideline value serves as a benchmark to ensure that the property is registered at a fair value according to the local regulations.

When selling a property, the seller must also be aware of the guideline value, as it can influence the pricing strategy and the overall transaction process. Accurate knowledge of the guideline value helps both buyers and sellers to navigate the registration process effectively.

Frequently asked questions

What is the current guideline value of KAVIYA NAGAR 2nd STREET?

The current guideline value of KAVIYA NAGAR 2nd STREET is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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

What is the land classification for KAVIYA NAGAR 2nd STREET?

KAVIYA NAGAR 2nd STREET is classified as Residential Class III Type - III.

Which Sub Registrar Office covers this street?

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

How is stamp duty calculated for properties in KAVIYA NAGAR 2nd 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 would be Rs 1,12,000 at 7%.