Guideline Value for Kavery Nagar 1st Cross Street

Kavery Nagar 1st Cross Street guideline value

The current guideline value of Kavery Nagar 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village, under the Adayar SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Kavery Nagar 1st Cross Street has changed

The guideline value for Kavery Nagar 1st Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. However, it increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and further rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Kavery Nagar 1st Cross Street is below this median.

• Kavery Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar Beach 1st Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar Beach 2nd Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar Beach 3rd Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar Beach 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kavery Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. 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 Kavery Nagar 1st Cross Street?

The Kavery Nagar 1st Cross Street falls under the Adayar Sub Registrar Office located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

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

When buying or selling a property, the guideline value helps both parties understand the legal value of the property. It is essential for buyers to be aware of this value to ensure they are paying a fair amount in taxes and fees during the registration process.

Frequently asked questions

What is the current guideline value of Kavery Nagar 1st Cross Street?

The current guideline value of Kavery Nagar 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification of Kavery Nagar 1st Cross Street?

Kavery Nagar 1st Cross Street is classified under Residential Class III Type - I land classification.

What are the stamp duty and registration fees for properties in Kavery Nagar 1st Cross Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Kavery Nagar 1st Cross Street?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, covers Kavery Nagar 1st Cross Street.