Guideline Value for Kavaraikula Street

Kavaraikula Street guideline value

The current guideline value of Kavaraikula Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Sholavaram village, under the Redhills SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Kavaraikula Street has changed

Over the years, the guideline value of Kavaraikula Street has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 200 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, marking a 150% rise. However, in 2017, the value dropped to Rs 335 per sq.ft, representing a decrease of 33%. The value then rose to Rs 500 per sq.ft in 2023, followed by another increase to Rs 550 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for Kavaraikula Street. From 2007 to 2024, the overall increase in the guideline value is 175%, highlighting the fluctuations in the valuation over the years.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that have a guideline value for 2024, ranging from Rs 515 to Rs 3,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value of Kavaraikula Street at Rs 550 per sq.ft is below this median.

• Katheja Nagar: Rs 550 per sq.ft (2024)
• Kathamba Nagar: Rs 660 per sq.ft (2024)
• Karunanidhi Street: Rs 550 per sq.ft (2024)
• Kennedy Street: Rs 550 per sq.ft (2024)
• KFT City: Rs 770 per sq.ft (2024)
• Kamaraj Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Kavaraikula Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kavaraikula Street?

The Sub Registrar Office that covers Kavaraikula Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Sholavaram. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

When registering a property, the authorities will assess the guideline value to ensure that the correct fees are applied. This ensures transparency and compliance with local regulations in property dealings.

Frequently asked questions

What is the current guideline value of Kavaraikula Street?

The current guideline value of Kavaraikula Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

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

Other streets in Sholavaram include Katheja Nagar and Karunanidhi Street, both at Rs 550 per sq.ft, Kathamba Nagar at Rs 660 per sq.ft, and KFT City and Kamaraj Nagar at Rs 770 per sq.ft.

What are the stamp duty and registration fees for properties in Kavaraikula Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 38,500, and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office covers Kavaraikula Street?

The Redhills Sub Registrar Office covers Kavaraikula Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.