Guideline Value for Kavarai street

Kavarai street guideline value

The current guideline value of Kavarai street in Poonthamallee village, under the Poonamallee SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Kavarai street has changed

Over the years, the guideline value of Kavarai street has undergone several revisions. In 2007, the guideline value was Rs 300 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 567%. However, in 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, which was a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Kavarai street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 633%.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with the 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Kavarai street.

• Kaveri nagar: Rs 2,200 per sq.ft (2024)
• Keelmanagar: Rs 2,200 per sq.ft (2024)
• Karunagaran nagar: Rs 2,200 per sq.ft (2024)
• Karaiyanchavadi vaaniyar street (east): Rs 3,250 per sq.ft (2024)
• Karaiyanchavadi street (west): Rs 3,250 per sq.ft (2024)
• Kantharupan nagar: Rs 2,200 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 2,200 per sq.ft, the total guideline value is Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost Rs 1,98,000. 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?

Kavarai street is covered by the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Poonthamallee. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

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

Frequently asked questions

What is the current guideline value of Kavarai street?

The current guideline value of Kavarai street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024. This reflects an overall increase of 633% from the 2007 figure.

What is the land classification for Kavarai street?

Kavarai street falls under the Residential Class II Type - I land classification.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Kavarai street?

The Poonamallee Sub Registrar Office handles registrations for Kavarai street, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.