Guideline Value for Kaveri Nagar, Lakshmipuram (Ward-26)

Kaveri Nagar, Lakshmipuram (Ward-26) guideline value

The current guideline value of Kaveri Nagar, Lakshmipuram (Ward-26) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class III Type - I. The guideline value is set by the Madhavaram SRO.

How the guideline value of Kaveri Nagar, Lakshmipuram (Ward-26) has changed

The guideline value for Kaveri Nagar has seen several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. This represents a decline of 33%. However, from 2017 to the upcoming 2024 revision, the value has increased significantly to Rs 1,300 per sq.ft, marking a rise of 62%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for Kaveri Nagar in the register.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that Kaveri Nagar's 2024 figure is below this median.

• Kaveri Nagar: Rs 1,300 per sq.ft (2024)
• Kaveri Colony (Ward No.26): Rs 1,300 per sq.ft (2024)
• Kasthuri St, Lakshmipuram (Ward-26): Rs 2,200 per sq.ft (2024)
• Kasthuri 5th Street (Lakshmipuram) (Ward No.26): Rs 2,200 per sq.ft (2024)
• Kasthuri 4th Street (Lakshmipuram) (Ward No.26): Rs 2,200 per sq.ft (2024)
• Kasthuri 3rd Street (Lakshmipuram) (Ward No.26): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kaveri Nagar, Lakshmipuram (Ward-26)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kaveri Nagar, Lakshmipuram (Ward-26)?

The Sub Registrar Office that covers Kaveri Nagar, Lakshmipuram (Ward-26) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and in accordance with government regulations.

When a property is sold, the guideline value is considered to ascertain the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Kaveri Nagar, Lakshmipuram (Ward-26)?

The current guideline value of Kaveri Nagar, Lakshmipuram (Ward-26) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,300 per sq.ft in 2024. This shows a decline from 2012 to 2017, followed by a significant increase to 2024.

What is the land classification of Kaveri Nagar?

Kaveri Nagar is classified as Residential Class III Type - I. This classification affects the guideline value and the types of properties that can be developed in the area.

Which office handles registrations for Kaveri Nagar?

The Madhavaram Sub Registrar Office handles registrations for Kaveri Nagar, Lakshmipuram (Ward-26). The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.