Guideline Value for Kavarai Street (W.M)

Kavarai Street (W.M) guideline value

The current guideline value of Kavarai Street (W.M) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kavarai Street (W.M) has changed

The guideline value of Kavarai Street (W.M) has undergone several revisions over the years. The oldest recorded revision was in 2007, where the guideline value was Rs 1,370 per sq.ft. This figure saw a significant increase to Rs 5,000 per sq.ft in both the 2012 and 2023 revisions, indicating no change during this period. The most recent revision in 2024 raised the guideline value to Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 301%. Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Kavarai Street (W.M) above this median with its 2024 figure of Rs 5,500 per sq.ft.

• Kavarai Street (V.P): Rs 5,500 per sq.ft (2024)
• Kattapomman Street: Rs 3,300 per sq.ft (2024)
• Kaveri Street Block 62: Rs 4,900 per sq.ft (2024)
• Kasiviswanathan Street: Rs 7,700 per sq.ft (2024)
• Kasiviswanathan Colony 6th Street: Rs 7,700 per sq.ft (2024)
• Kasiviswanathan Colony 5th Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kavarai Street (W.M)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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 details.

Which Sub Registrar Office covers Kavarai Street (W.M)?

The Sub Registrar Office that covers Kavarai Street (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Kavarai Street (W.M)?

The current guideline value of Kavarai Street (W.M) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 1,370 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 301%.

What is the land classification for Kavarai Street (W.M)?

Kavarai Street (W.M) is classified as Residential Class III Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Kavarai Street (W.M)?

The Sub Registrar Office for Kavarai Street (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Kavarai Street (W.M)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at 7%.