Guideline Value for Kavara Street

Kavara Street guideline value

The current guideline value of Kavara Street in Thirunageswaram village is Rs 1,550 per sq.ft, effective from 1 July 2024. This street falls under the Kunrathur SRO and is classified as Residential Special Type - II.

How the guideline value of Kavara Street has changed

The guideline value for Kavara Street has undergone several revisions over the years. In 2003, the value was Rs 153 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2007. Following this, the value saw a remarkable rise to Rs 1,400 per sq.ft in 2012, but then it dropped to Rs 938 per sq.ft in 2017. The 2023 revision set the value at Rs 1,400 per sq.ft, and the most recent revision in 2024 has increased it to Rs 1,550 per sq.ft.

Between the revisions, the changes were notable. From 2003 to 2007, the value increased by 96%, and then it surged by 367% from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023. The increase from 2023 to 2024 is 11%. Overall, from 2003 to 2024, the guideline value has increased by 913%. The register has no figure for the year 2002 for this street.

Guideline values in Thirunageswaram

In Thirunageswaram, there are 105 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,550 per sq.ft. Kavara Street's 2024 figure is equal to this median.

• KMK Garden: Rs 1,550 per sq.ft (2024)
• Kanniappan Nagar V.O.C. Chidambaranar Street: Rs 1,550 per sq.ft (2024)
• Kanniappan Nagar T.V.K. Street: Rs 1,550 per sq.ft (2024)
• Kanniappan Nagar Thiruvalluvar Street: Rs 1,550 per sq.ft (2024)
• Kanniappan Nagar Murugesan Street: Rs 1,550 per sq.ft (2024)
• Kanniappan Nagar M.G.R. Salai: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Kavara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value amounts to Rs 15,50,000. The stamp duty at 7% would be Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, bringing the total cost for these charges to Rs 1,39,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kavara Street?

The Sub Registrar Office that covers Kavara Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thirunageswaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property based on the current market conditions. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic prices for their properties.

Frequently asked questions

What is the current guideline value of Kavara Street?

The current guideline value of Kavara Street is Rs 1,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 153 per sq.ft in 2003 to Rs 1,550 per sq.ft in 2024, reflecting an overall increase of 913% over the years.

What are the other streets in Thirunageswaram with the same guideline value?

Other streets in Thirunageswaram with a guideline value of Rs 1,550 per sq.ft in 2024 include KMK Garden, Kanniappan Nagar V.O.C. Chidambaranar Street, Kanniappan Nagar T.V.K. Street, Kanniappan Nagar Thiruvalluvar Street, Kanniappan Nagar Murugesan Street, and Kanniappan Nagar M.G.R. Salai.

What are the stamp duty and registration fees for properties in Kavara Street?

For a property valued at Rs 15,50,000, the stamp duty would be Rs 1,08,500 and the registration fee would be Rs 31,000, totaling Rs 1,39,500.

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

The Sub Registrar Office for Kavara Street is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details about your SRO online.