Guideline Value for Kathavarayan Nagar

Kathavarayan Nagar guideline value

The current guideline value of Kathavarayan Nagar is Rs 950 per sq.ft, effective from 1 July 2024. This area is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kathavarayan Nagar has changed

The guideline value for Kathavarayan Nagar has undergone several revisions over the years. In 2012, the value was Rs 900 per sq.ft. This decreased to Rs 603 per sq.ft in 2017, representing a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 900 per sq.ft, marking a rise of 49%. The latest revision in 2024 has set the guideline value at Rs 950 per sq.ft, reflecting a 6% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Kathavarayan Nagar's 2024 figure below this median.

• Karunanidhi Main Road: Rs 1,600 per sq.ft (2024)
• Kirubha Nagar: Rs 850 per sq.ft (2024)
• Karpagam Avenue: Rs 1,900 per sq.ft (2024)
• K.A.P. Viswanathan Street: Rs 2,400 per sq.ft (2024)
• Krishna Nagar: Rs 1,600 per sq.ft (2024)
• Kanagaraja Street: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Kathavarayan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value would be Rs 9,50,000. The stamp duty at 7% would amount to Rs 66,500, and the registration fee at 2% would be Rs 19,000, bringing the total fees together to Rs 85,500. It's important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kathavarayan Nagar?

The Sub Registrar Office that covers Kathavarayan 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 Chembakkam

The guideline value is a crucial factor when registering property in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers must be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that all transactions are properly accounted for.

Frequently asked questions

What is the current guideline value of Kathavarayan Nagar?

The current guideline value of Kathavarayan Nagar is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then back to Rs 900 per sq.ft in 2023, and finally to Rs 950 per sq.ft in 2024.

What is the land classification of Kathavarayan Nagar?

Kathavarayan Nagar is classified as Residential Class IV Type - I.

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 is the stamp duty calculated for properties in Kathavarayan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 9,50,000, the stamp duty would be Rs 66,500 at a rate of 7%.