Guideline Value for Kavery Nagar 3rd Cross Street

Kavery Nagar 3rd Cross Street guideline value

The current guideline value of Kavery Nagar 3rd 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. The land classification for this area is Residential Class III Type - I.

How the guideline value of Kavery Nagar 3rd Cross Street has changed

The guideline value 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. Following that, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and then further rose to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, 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

Kottivakkam village has a total of 284 streets under the Adayar SRO, with guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, placing Kavery Nagar 3rd Cross Street's 2024 figure below that median.

• Kavery Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar Beach 1st Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar 1st Cross 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 3rd 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 amounts to 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 fees together to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kavery Nagar 3rd Cross Street?

The Kavery Nagar 3rd Cross Street is covered by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buyers and sellers engage in a transaction, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the sale and that the transaction adheres to legal requirements.

Frequently asked questions

What is the current guideline value of Kavery Nagar 3rd Cross Street?

The current guideline value of Kavery Nagar 3rd 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 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Kavery Nagar 3rd Cross Street?

The land classification for Kavery Nagar 3rd Cross Street is Residential Class III Type - I.

Where can I find the Sub Registrar Office for Kavery Nagar 3rd Cross Street?

The Sub Registrar Office covering Kavery Nagar 3rd Cross Street is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Kavery Nagar 3rd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.