Guideline Value for KAVYA NAGAR

Kavya Nagar guideline value

The current guideline value of Kavya Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madurabakkam village and falls under the Selaiyur SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Kavya Nagar has changed

The guideline value for Kavya Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 1,005 per sq.ft. In 2023, the value increased to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it to Rs 1,600 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Between the revisions, the changes are notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%, and the overall change from 2012 to 2024 shows a rise of 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. The median guideline value is Rs 1,600 per sq.ft, which is equal to the current value of Kavya Nagar.

• 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 Kavya Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the 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 Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kavya Nagar?

The Sub Registrar Office that covers Kavya Nagar is 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. You can find your SRO for more information.

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

The guideline value is an essential factor in the property registration process in Madurabakkam. It serves as a reference point for calculating the stamp duty and registration fees that buyers must pay when purchasing a property. This value ensures that the government receives the appropriate revenue from property transactions.

When selling a property, the guideline value helps determine the minimum price at which the property can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Kavya Nagar?

The current guideline value of Kavya 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 1,600 per sq.ft in 2024, with a significant drop to Rs 1,005 per sq.ft in 2017, followed by an increase to Rs 1,500 per sq.ft in 2023.

What are the stamp duty rates for property in Kavya Nagar?

The stamp duty rate for property in Kavya Nagar is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for Kavya Nagar?

The Selaiyur Sub Registrar Office is responsible for Kavya Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the median guideline value in Madurabakkam?

The median guideline value in Madurabakkam is Rs 1,600 per sq.ft, which is the same as the current guideline value for Kavya Nagar.