Guideline Value for Kaveri Nagar

Kaveri Nagar guideline value

The current guideline value of Kaveri Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kaveri Nagar has changed

The guideline value for Kaveri Nagar has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in the 2017 revision. However, the most recent 2024 revision has increased the value back to Rs 1,300 per sq.ft, marking a 62% increase from the 2017 figure. 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 this street. The fluctuations in values highlight the changes in the real estate landscape in Kaveri Nagar.

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 for these streets is Rs 1,600 per sq.ft, indicating that Kaveri Nagar's 2024 figure is below this median.

• Kaveri Colony ( Ward No.26 ): Rs 1,300 per sq.ft (2024)
• Kaveri Nagar, Lakshmipuram (Ward-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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees 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.

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

Which Sub Registrar Office covers Kaveri Nagar?

Kaveri Nagar falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value influences the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can significantly affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Kaveri Nagar?

The current guideline value of Kaveri Nagar 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, and then increased to Rs 1,300 per sq.ft in 2024.

What is the land classification for Kaveri Nagar?

Kaveri Nagar is classified as Residential Class III Type - I according to the registration guidelines.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How are stamp duty and registration fees calculated in Kaveri Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total fees would amount to Rs 1,17,000.