Guideline Value for KAVIYA NAGAR

Kaviya Nagar guideline value

The current guideline value of Kaviya Nagar, located in Madurabakkam village under the Selaiyur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Kaviya Nagar has changed

The guideline value for Kaviya Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,005 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,600 per sq.ft, marking a 7% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madurabakkam

In Madurabakkam, there are 23 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 2,700 per sq.ft, with the median value being Rs 1,600 per sq.ft. Kaviya Nagar's 2024 guideline value aligns perfectly with this median.

• Kaviya Nagar: Rs 1,600 per sq.ft (2024)
• K P Daffodils: Rs 2,700 per sq.ft (2024)
• Kamatchi Nagr: Rs 1,300 per sq.ft (2024)
• Madurapakkam Main Road: Rs 2,200 per sq.ft (2024)
• Green Castle Avenue: Rs 1,600 per sq.ft (2024)
• Dr.RAGINI CITY: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kaviya Nagar

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, and the registration fee at 2% would be Rs 32,000, making the total fees together 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 falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Madurabakkam. It determines the minimum value at which the property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy. It ensures that both parties are aware of the official valuation of the property, which can prevent disputes and ensure compliance with local regulations.

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 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of Kaviya Nagar?

Kaviya Nagar is classified as Residential Class I Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, and the registration fee is charged at 2% of the guideline value. An example for a 1,000 sq.ft plot shows total fees of Rs 1,44,000.