Guideline Value for Kaveri Street

Kaveri Street guideline value

The current guideline value of Kaveri Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Kaveri Street has changed

The guideline value for Kaveri Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Subsequently, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the current 2024 revision further raised it to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Kaveri Street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as that of Kaveri Street for the year 2024.

• Kaviarasu Kannadasan Street: Rs 1,650 per sq.ft (2024)
• Kennedy St: Rs 1,650 per sq.ft (2024)
• Kasthuribai Street: Rs 1,650 per sq.ft (2024)
• Kirupanandavariyar Street: Rs 1,650 per sq.ft (2024)
• Karunanithi St: Rs 1,650 per sq.ft (2024)
• Karthik Avenue Annex: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kaveri Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaveri Street?

Kaveri Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that both the buyer and seller comply with the regulatory requirements. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Kaveri Street?

The current guideline value of Kaveri Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with various revisions in between. Notably, there was a 49% increase from 2017 to 2023.

What is the median guideline value in Chitlapakkam?

The median guideline value in Chitlapakkam is Rs 1,650 per sq.ft, which is the same as the current value for Kaveri Street.

What are the stamp duty and registration fees for Kaveri Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles the registration for Kaveri Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Kaveri Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.