Guideline Value for Kaalvai Street

Kaalvai Street guideline value

The current guideline value of Kaalvai Street in Naravarikuppam village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Kaalvai Street has changed

The guideline value for Kaalvai Street has seen several revisions over the years. In 2002, the guideline value was Rs 3,471 per sq.ft, which decreased to Rs 353 per sq.ft in 2003. The value then rose to Rs 400 per sq.ft in 2007, followed by a significant increase to Rs 1,200 per sq.ft in 2012. However, it dropped to Rs 804 per sq.ft in 2017, before increasing to Rs 1,200 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft.

Between the revisions, the changes were as follows: from 2002 to 2003, there was a decrease of 90%. From 2003 to 2007, the value increased by 13%, followed by a substantial rise of 200% from 2007 to 2012. The value then decreased by 33% from 2012 to 2017, and increased by 49% from 2017 to 2023. The latest revision shows a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has decreased by 62%.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Kaalvai Street's 2024 figure below that median.

• Kalaivanar Street: Rs 1,320 per sq.ft (2024)
• Jeevarathinam Street: Rs 1,320 per sq.ft (2024)
• Kalaivanar Street Lane: Rs 1,320 per sq.ft (2024)
• Kalaivani Street: Rs 1,320 per sq.ft (2024)
• Jeevanandam Street: Rs 1,650 per sq.ft (2024)
• Jawharlal Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kaalvai Street

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kaalvai Street?

The Sub Registrar Office that covers Kaalvai Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Naravarikuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory expenses for the transaction. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kaalvai Street?

The current guideline value of Kaalvai Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,471 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting a decrease of 62% overall.

What are the stamp duty and registration fees for properties on Kaalvai Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,18,800.

Which Sub Registrar Office is responsible for Kaalvai Street?

The Redhills Sub Registrar Office is responsible for Kaalvai Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Kaalvai Street?

Kaalvai Street is classified as Residential Class III Type - I, indicating its designation for residential use.