Guideline Value for Kavari Street

Kavari Street guideline value

The current guideline value of Kavari Street in Satthankadu village, under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Kavari Street has changed

The guideline value for Kavari Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,100 per sq.ft in 2012, marking a 417% rise. However, from 2012 to 2017, the value decreased to Rs 2,077 per sq.ft, a drop of 33%. The value then rose again to Rs 3,100 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 3,400 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 467%.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,400 per sq.ft. Kavari Street's 2024 figure matches this median value.

• Kavarai street: Rs 3,400 per sq.ft (2024)
• Kanniyappa Nagar Street: Rs 3,400 per sq.ft (2024)
• Kumaran Nagar: Rs 3,400 per sq.ft (2024)
• Jandravar Street: Rs 2,800 per sq.ft (2024)
• Janagiammal Estate: Rs 3,400 per sq.ft (2024)
• Manali Express Road: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kavari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, totaling Rs 3,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kavari Street?

The Sub Registrar Office that covers Kavari Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Satthankadu. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

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

Frequently asked questions

What is the current guideline value of Kavari Street?

The current guideline value of Kavari Street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, marking an overall increase of 467% over the years.

What are the other streets in Satthankadu with the same guideline value?

Other streets in Satthankadu with the same guideline value of Rs 3,400 per sq.ft include Kavarai street, Kanniyappa Nagar Street, Kumaran Nagar, and Janagiammal Estate.

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

For a property valued at Rs 34,00,000, the stamp duty is Rs 2,38,000, and the registration fee is Rs 68,000, totaling Rs 3,06,000.

Where is the Sub Registrar Office for Kavari Street located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.