Guideline Value for Kathiravan Nagar

Kathiravan Nagar guideline value

The current guideline value of Kathiravan Nagar is Rs 4,400 per sq.ft, effective from July 1, 2024. This area is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of Kathiravan Nagar has changed

Over the years, the guideline value of Kathiravan Nagar has seen several revisions. The 2007 revision set the value at Rs 1,800 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. This marked an increase of 122%. The value remained unchanged at Rs 4,000 per sq.ft until the 2023 revision, which raised it to Rs 4,400 per sq.ft, reflecting a 10% increase.

From the 2007 revision to the 2024 revision, the overall increase in guideline value is 144%. Notably, there are no figures available for the revisions in 2002, 2003, and 2017 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, making the guideline value of Kathiravan Nagar equal to this median.

• Kavery Street: Rs 3,850 per sq.ft (2024)
• Karunanidhi Street: Rs 3,850 per sq.ft (2024)
• Karunambigai Street: Rs 3,850 per sq.ft (2024)
• Karunambigai Colony: Rs 4,400 per sq.ft (2024)
• Karunakaran Street: Rs 3,850 per sq.ft (2024)
• Karumariyamman Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Kathiravan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kathiravan Nagar?

The Sub Registrar Office that covers Kathiravan Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Velachery. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid to the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it ensures that the correct fees are calculated based on the official rates. This helps in maintaining transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Kathiravan Nagar?

The current guideline value of Kathiravan Nagar is Rs 4,400 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 144%.

What are the stamp duty and registration fees for property in Kathiravan Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000, resulting in a stamp duty of Rs 3,08,000 and a registration fee of Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office is responsible for Kathiravan Nagar?

The Velacheri Sub Registrar Office is responsible for Kathiravan Nagar, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value determined in Velachery?

The guideline value in Velachery is determined by the Registration Department's guideline value register, which is periodically revised based on various factors. The current figures reflect the market conditions and property classifications.