Guideline Value for Kavarai Street

Kavarai Street guideline value

The current guideline value of Kavarai Street in Periyapalayam village, under the Arani_Tiruvallur SRO, is Rs 600 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Kavarai Street has changed

Over the years, the guideline value of Kavarai Street has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 100 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a 500% increase. However, it then decreased to Rs 402 per sq.ft in 2017, which represented a 33% drop. The value remained at Rs 600 per sq.ft in both 2023 and 2024, showing no change between these two revisions.

Notably, there are no figures available for the years 2002 and 2003 in the register for Kavarai Street. From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, there has been a remarkable increase of 500%.

Guideline values in Periyapalayam

In Periyapalayam, there are 31 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value, ranging from Rs 160 to Rs 600 per sq.ft, with a median of Rs 200 per sq.ft. Kavarai Street's 2024 figure of Rs 600 per sq.ft is above this median.

• Kannappar Street: Rs 600 per sq.ft (2024)
• Kannappar Nagar: Rs 160 per sq.ft (2024)
• Lakshmi Amman Nagar: Rs 250 per sq.ft (2024)
• Kalaignar Nagar: Rs 300 per sq.ft (2024)
• Kakkanji Nagar: Rs 160 per sq.ft (2024)
• J.H. Nagar Annex: Rs 600 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 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total to Rs 54,000. Duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kavarai Street?

Kavarai Street is covered by the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone. For more details, you can find your SRO.

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

The guideline value is crucial during the registration process of property transactions in Periyapalayam. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that transactions reflect fair pricing in accordance with the local regulations.

When a property is registered, 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 collects appropriate taxes on property transactions.

Frequently asked questions

What is the current guideline value of Kavarai Street?

The current guideline value of Kavarai Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, particularly from Rs 100 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, followed by a decrease to Rs 402 per sq.ft in 2017, and remaining at Rs 600 per sq.ft in 2023 and 2024.

What are the other streets in Periyapalayam with their guideline values?

Other streets in Periyapalayam include Kannappar Street at Rs 600 per sq.ft, Kannappar Nagar at Rs 160 per sq.ft, Lakshmi Amman Nagar at Rs 250 per sq.ft, Kalaignar Nagar at Rs 300 per sq.ft, Kakkanji Nagar at Rs 160 per sq.ft, and J.H. Nagar Annex at Rs 600 per sq.ft.

What fees are associated with property transactions in Kavarai Street?

For a property transaction in Kavarai Street, the stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. These fees are based on the higher of the guideline value or the sale price.

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

The Sub Registrar Office covering Kavarai Street is the Arani_Tiruvallur SRO, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone.