Guideline Value for Kaavya Garden

Kaavya Garden guideline value

The current guideline value of Kaavya Garden, located in Sothupakkam village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Kaavya Garden has changed

Since 2003, the guideline value of Kaavya Garden has seen significant changes. In 2003, the value was Rs 22 per sq.ft, which increased dramatically to Rs 300 per sq.ft in 2007, marking a rise of 1264%. The value then adjusted to Rs 400 per sq.ft in 2012, a decrease of 33%. In 2017, it increased to Rs 268 per sq.ft, and by 2023, it reached Rs 400 per sq.ft again. The latest revision in 2024 set the value at Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1900%. The register has no figure for the year 2002 for this street.

Guideline values in Sothupakkam

In Sothupakkam, there are 49 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 1,150 per sq.ft, with the median value being Rs 440 per sq.ft. Kaavya Garden's current guideline value is equal to this median.

• Kaavya Garden Annex: Rs 440 per sq.ft (2024)
• Ganapathy Nagar: Rs 440 per sq.ft (2024)
• Don Nagar: Rs 330 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 440 per sq.ft (2024)
• Manish Nagar: Rs 440 per sq.ft (2024)
• Manish Nagar Annex: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Kaavya Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees together to Rs 39,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kaavya Garden?

The Sub Registrar Office that covers Kaavya Garden is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Sothupakkam. It is used to determine the stamp duty and registration fees payable when buying or selling property. Buyers and sellers must consider this value, as it affects the overall cost of the transaction.

When registering a property, the guideline value serves as a benchmark for valuation, ensuring that the transaction is recorded accurately. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Kaavya Garden?

The current guideline value of Kaavya Garden is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 22 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 1900% over the years.

What are the stamp duty and registration fees for properties in Kaavya Garden?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which Sub Registrar Office is responsible for Kaavya Garden?

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

What is the land classification for Kaavya Garden?

Kaavya Garden falls under the Residential Class II Type - I land classification, indicating its suitability for residential purposes.