Guideline Value for Kathirvelan Street

Kathirvelan Street guideline value

The current guideline value of Kathirvelan Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kathirvelan Street has changed

The guideline value for Kathirvelan Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, indicating that the 2024 figure for Kathirvelan Street is below this median.

• Kashyapa Street: Rs 3,300 per sq.ft (2024)
• Karpagam Nagar: Rs 3,850 per sq.ft (2024)
• Karpagam Avenue: Rs 4,400 per sq.ft (2024)
• Kannammal Nagar Avenue: Rs 2,750 per sq.ft (2024)
• Kannammal Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Kannammal Nagar 1st Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kathirvelan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kathirvelan Street?

The Sub Registrar Office that covers Kathirvelan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process of property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that the transaction is recorded at a value that reflects current market conditions as set by the registration department.

Frequently asked questions

What is the current guideline value of Kathirvelan Street?

The current guideline value of Kathirvelan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was previously Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Kathirvelan Street?

Kathirvelan Street is classified as Residential Class II Type - II under the current guidelines.

Where can I find the Sub Registrar Office for Kathirvelan Street?

The Virugambakkam Sub Registrar Office, which covers Kathirvelan Street, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft property, the total costs would amount to Rs 2,97,000 based on the current guideline value.