Guideline Value for Kavarai Salai

Kavarai Salai guideline value

The current guideline value of Kavarai Salai is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Kavarai Salai has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it to Rs 2,500 per sq.ft. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, which is an increase of 8% from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO that carry a guideline value for 2024, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Kavarai Salai.

• Kattabomman Main Road: Rs 2,700 per sq.ft (2024)
• Kattabomman 9th Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 8th Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 7th Street Lane: Rs 2,200 per sq.ft (2024)
• Kattabomman 7th Street: Rs 2,700 per sq.ft (2024)
• Kattabomman 6th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kavarai Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total charges to Rs 2,43,000. It is 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 detailed calculations.

Which Sub Registrar Office covers Kavarai Salai?

The Sub Registrar Office covering Kavarai Salai is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with government regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kavarai Salai?

The current guideline value of Kavarai Salai is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the median guideline value for streets in Kodungaiyur?

The median guideline value for streets in Kodungaiyur is Rs 2,700 per sq.ft, which is the same as the current guideline value for Kavarai Salai.

What are the stamp duty and registration fees for property in Kavarai Salai?

For a 1,000 sq.ft plot, the total guideline value would be Rs 27,00,000. The stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where is the Sub Registrar Office for Kavarai Salai located?

The Sub Registrar Office for Kavarai Salai is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.