Guideline Value for Kaveri Street

Kaveri Street guideline value

The current guideline value of Kaveri Street in Irumpuliyur village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - II.

How the guideline value of Kaveri Street has changed

The guideline value for Kaveri Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017, before rising again to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was a remarkable 233%. Overall, from 2007 to 2024, the guideline value has increased by 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. Kaveri Street's 2024 figure aligns with this median.

• Karikalan Street: Rs 2,530 per sq.ft (2024)
• Kannan St: Rs 2,530 per sq.ft (2024)
• Kannan Avenue: Rs 2,530 per sq.ft (2024)
• Krishna Street: Rs 2,200 per sq.ft (2024)
• Krishna Street (Yadhaval Street): Rs 2,200 per sq.ft (2024)
• Kulakkarai Street: Rs 2,530 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. 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 Street?

The Sub Registrar Office that covers Kaveri Street is 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 Irumpuliyur

The guideline value plays a crucial role in the registration process of property transactions in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kaveri Street?

The current guideline value of Kaveri Street is Rs 2,200 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 2,200 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the land classification of Kaveri Street?

Kaveri Street is classified as Residential Special Type - II under the guideline value register.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, with stamp duty at Rs 1,54,000 and registration fees at Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Kaveri Street?

Kaveri Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059.