Guideline Value for Kaveri Street

Kaveri Street guideline value

The current guideline value of Kaveri Street in Rajakilpakkam village, under the Selaiyur SRO, is Rs 2,150 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Kaveri Street has changed

The guideline value for Kaveri Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,150 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. There are no figures available for Kaveri Street in the revisions from 2002, 2003, and 2007.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are a total of 384 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value is Rs 2,150 per sq.ft, which is equal to the current guideline value of Kaveri Street.

• K.M.C. Colony: Rs 880 per sq.ft (2024)
• Karpagam Nagar: Rs 1,300 per sq.ft (2024)
• Koushik Avenue: Rs 2,150 per sq.ft (2024)
• Koushik Avenue 1st Cross Street: Rs 2,150 per sq.ft (2024)
• Koushik Avenue 1st Street: Rs 2,150 per sq.ft (2024)
• Koushik Avenue 2nd Street: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Kaveri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value amounts to Rs 21,50,000. The stamp duty at 7% would be Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, bringing the total cost to Rs 1,93,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaveri Street?

Kaveri Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any potential disputes during the transaction process.

Frequently asked questions

What is the current guideline value of Kaveri Street?

The current guideline value of Kaveri Street is Rs 2,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,150 per sq.ft in 2024.

What is the land classification of Kaveri Street?

Kaveri Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties on Kaveri Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,150 per sq.ft, the stamp duty would be Rs 1,50,500.