Guideline Value for Kaveri nagar

Kaveri nagar guideline value

The current guideline value of Kaveri nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kaveri nagar has changed

The guideline value for Kaveri nagar has seen several revisions over the years. The 2007 revision set the value at Rs 300 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in the 2012 revision. However, the value decreased by 33% to Rs 1,340 per sq.ft in 2017. The 2023 revision raised the guideline value to Rs 2,000 per sq.ft, and the latest 2024 revision has further increased it to Rs 2,200 per sq.ft, marking a 10% rise from the previous year.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 633%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

In Poonthamallee village, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the guideline value for Kaveri nagar.

• Kavarai street: Rs 2,200 per sq.ft (2024)
• Keelmanagar: Rs 2,200 per sq.ft (2024)
• Karunagaran nagar: Rs 2,200 per sq.ft (2024)
• Karaiyanchavadi vaaniyar street (east): Rs 3,250 per sq.ft (2024)
• Karaiyanchavadi street (west): Rs 3,250 per sq.ft (2024)
• Kantharupan nagar: 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Please note that 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?

Kaveri nagar falls under the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Poonthamallee, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value during negotiations and ensure compliance with the registration requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kaveri nagar?

The current guideline value of Kaveri nagar 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 changed from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, with various increases and decreases in between. Notably, it increased by 633% overall from 2007 to 2024.

What are the stamp duty and registration fees for properties in Kaveri nagar?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000. These fees are based on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Kaveri nagar?

Kaveri nagar is covered by the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

Where can I find more information about guideline values in Poonthamallee?

For more information on guideline values in Poonthamallee, you can refer to the Registration Department's guideline value register (TNReginet) or visit the Poonamallee SRO.