Guideline Value for KAVIYA NAGAR

Kaviya Nagar guideline value

The current guideline value for Kaviya Nagar in Korattur village is Rs 1,600 per sq.ft, effective from July 1, 2024. This area falls under the Villivakkam Sub Registrar Office and is classified as Residential Class III Type - III.

How the guideline value of Kaviya Nagar has changed

The guideline value for Kaviya Nagar has seen several revisions over the years. Starting from Rs 95 per sq.ft in 2002, it increased to Rs 250 per sq.ft in 2007, marking a significant rise of 163%. In 2012, the value rose to Rs 1,500 per sq.ft, but then decreased by 33% to Rs 1,005 per sq.ft in 2017. The most recent revision in 2024 saw the guideline value increase to Rs 1,600 per sq.ft, reflecting a 59% rise from the 2017 figure.

It is important to note that there are no figures available for the years 2003 and 2023 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1584%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value is Rs 2,500 per sq.ft, placing Kaviya Nagar's current figure below this median.

• KAVIYA NAGAR 1st STREET: 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

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kaviya Nagar?

Kaviya Nagar is covered by 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 during property transactions in Korattur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling a property. The higher of the guideline value or the sale price is considered for these calculations.

When registering a property, it is essential to refer to the guideline value to ensure compliance with local regulations. This value helps in standardizing property transactions and ensuring transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Kaviya Nagar?

The current guideline value of Kaviya Nagar is Rs 1,600 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 95 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 1584%.

What is the land classification of Kaviya Nagar?

Kaviya Nagar is classified as Residential Class III Type - III under the Villivakkam SRO.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.