Guideline Value for Kavarai St (Chetti St)

Kavarai St (Chetti St) guideline value

The current guideline value of Kavarai St (Chetti St) in Perampakkam village is Rs 350 per sq.ft, effective from 1 July 2024. This street falls under the Perambakkam SRO and is classified as Residential Class II Type - I.

How the guideline value of Kavarai St (Chetti St) has changed

The guideline value for Kavarai St (Chetti St) has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 3,00,000 per sq.ft. This was followed by a significant drop to Rs 350 per sq.ft in 2012, representing a 100% decrease. In 2017, the value increased to Rs 234 per sq.ft, marking a 33% decrease from the previous figure. In 2023, the value remained at Rs 350 per sq.ft, and this figure has been maintained in the 2024 revision, showing no change from the previous year.

It is important to note that there are no figures available for Kavarai St (Chetti St) in the revisions from 2002 and 2003. Overall, from 2007 to 2024, the guideline value has decreased by 100%.

Guideline values in Perampakkam

In Perampakkam, there are 20 streets under the Perambakkam SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 500 per sq.ft, with a median value of Rs 350 per sq.ft. Kavarai St (Chetti St) aligns with this median at Rs 350 per sq.ft.

• KK Nagar: Rs 350 per sq.ft (2024)
• Kammar St (Naidu St): Rs 400 per sq.ft (2024)
• Jothi Ramalingam Nagar: Rs 350 per sq.ft (2024)
• Hospital Road: Rs 400 per sq.ft (2024)
• MGR Nagar: Rs 350 per sq.ft (2024)
• Mudaliar St: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Kavarai St (Chetti St)

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value would be Rs 3,50,000. The stamp duty is calculated at 7%, amounting to Rs 24,500, while the registration fee at 2% would be Rs 7,000. Therefore, the total cost for stamp duty and registration would be Rs 31,500. It's important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kavarai St (Chetti St)?

The Sub Registrar Office that covers Kavarai St (Chetti St) is the Perambakkam Sub Registrar Office, located at Jothi Ramalinga Nagar, Near Post Office, Perambakkam, 631402, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Perampakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When a buyer purchases a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

During the registration process, the buyer must pay the stamp duty and registration fee based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kavarai St (Chetti St)?

The current guideline value of Kavarai St (Chetti St) is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,00,000 per sq.ft in 2007 to Rs 350 per sq.ft in 2012, with subsequent adjustments leading to a current value of Rs 350 per sq.ft in 2024.

What is the land classification for Kavarai St (Chetti St)?

Kavarai St (Chetti St) is classified as Residential Class II Type - I.

Where is the Sub Registrar Office for Kavarai St (Chetti St)?

The Sub Registrar Office for Kavarai St (Chetti St) is located at Jothi Ramalinga Nagar, Near Post Office, Perambakkam, 631402, Chennai registration zone.

How is stamp duty calculated for properties in Kavarai St (Chetti St)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 3,50,000, the stamp duty would be Rs 24,500 at 7%.