Guideline Value for Kavari Nagar

Kavari Nagar guideline value

The current guideline value of Kavari Nagar in Moulivakkam village, under the Kunrathur SRO, is Rs 2,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Kavari Nagar has changed

Over the years, the guideline value of Kavari Nagar has seen significant changes. Starting from Rs 178 per sq.ft in 2003, it rose to Rs 1,000 per sq.ft in 2007, marking an increase of 462%. The value then increased to Rs 2,400 per sq.ft in 2012, a jump of 140%. However, it dropped to Rs 1,608 per sq.ft in 2017, reflecting a decrease of 33%. The value further increased to Rs 2,400 per sq.ft in 2023, and currently stands at Rs 2,650 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 1389%.

Guideline values in Moulivakkam

In Moulivakkam, there are 44 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,000 to Rs 3,900 per sq.ft. The median value for these streets is Rs 2,450 per sq.ft, and Kavari Nagar's 2024 figure is above that median.

• Kamakshi / Rajalingam Nagar: Rs 2,450 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,650 per sq.ft (2024)
• Jothi Nagar: Rs 2,450 per sq.ft (2024)
• L.T. Avenue: Rs 2,650 per sq.ft (2024)
• Jeevan Nagar: Rs 2,450 per sq.ft (2024)
• Madha Nagar: Rs 2,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kavari Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,650 per sq.ft, the guideline value amounts to Rs 26,50,000. The stamp duty at 7% would be Rs 1,85,500, and the registration fee at 2% would be Rs 53,000, totaling Rs 2,38,500. 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 Kavari Nagar?

Kavari Nagar is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Moulivakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is compliant with the local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Kavari Nagar?

The current guideline value of Kavari Nagar is Rs 2,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 178 per sq.ft in 2003 to Rs 2,650 per sq.ft in 2024, reflecting an overall increase of 1389% over the years.

What is the median guideline value in Moulivakkam?

The median guideline value in Moulivakkam for 2024 is Rs 2,450 per sq.ft, with Kavari Nagar's value being above this median.

What are the stamp duty rates for property in Kavari Nagar?

The stamp duty rate for property in Kavari Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information through the provided link.