Guideline Value for Kavarai Street

Kavarai Street guideline value

The current guideline value of Kavarai Street, located in Arani village under the Arani_Tiruvallur SRO, is Rs 350 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Kavarai Street has changed

The guideline value for Kavarai Street has seen several revisions over the years. In the 2002 revision, the value was Rs 68 per sq.ft, which increased to Rs 76 per sq.ft in 2003. The subsequent revisions showed a significant rise, with the 2007 revision setting the value at Rs 150 per sq.ft, followed by a notable increase to Rs 350 per sq.ft in 2012. The 2017 revision saw a further increase to Rs 234 per sq.ft, and the value remained at Rs 350 per sq.ft in both the 2023 and 2024 revisions, indicating a 0% change between these two years.

From 2012 to 2017, the value decreased by 33%, while there was a 50% increase from 2017 to 2023. Overall, from 2002 to 2024, the guideline value has increased by 415%. There are no figures available for the revisions in years not listed in the register.

Guideline values in Arani

In Arani village, there are 51 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 600 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, placing Kavarai Street's 2024 figure above that median.

• Karnam Street: Rs 400 per sq.ft (2024)
• Kometti Street: Rs 200 per sq.ft (2024)
• Kammalar Street: Rs 400 per sq.ft (2024)
• Kallangi Street: Rs 400 per sq.ft (2024)
• Macha Veedi: Rs 350 per sq.ft (2024)
• Irukkam Veethi: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Kavarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total fees to Rs 31,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kavarai Street?

The Sub Registrar Office that covers Kavarai Street is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Arani. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Kavarai Street?

The current guideline value of Kavarai Street 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 68 per sq.ft in 2002 to Rs 350 per sq.ft in 2024, reflecting an overall increase of 415% over this period.

What are the stamp duty and registration fees for Kavarai Street?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 3,50,000. The stamp duty would be Rs 24,500, and the registration fee would be Rs 7,000, totaling Rs 31,500.

Which office handles registrations for Kavarai Street?

The Arani_Tiruvallur Sub Registrar Office handles registrations for Kavarai Street, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101.

What is the land classification for Kavarai Street?

Kavarai Street is classified under Residential Class II Type - II, which indicates its intended use for residential purposes.