Guideline Value for Kavery Nagar Beach 1st Street

Kavery Nagar Beach 1st Street guideline value

The current guideline value of Kavery Nagar Beach 1st 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 is classified as Residential Class III Type - I.

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

Over the years, the guideline value of Kavery Nagar Beach 1st Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from Rs 2,010 per sq.ft in the 2017 revision. The value then increased to Rs 3,000 per sq.ft in 2023, followed by a rise to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have 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 for these streets is Rs 3,900 per sq.ft, placing Kavery Nagar Beach 1st Street's 2024 guideline value below that median.

• Kavery Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar Beach 2nd Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar Beach 3rd Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar 1st Cross 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 Beach 1st 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 amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

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

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 the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the financial obligations of both parties involved in the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Kavery Nagar Beach 1st 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 significantly, from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, with various increases and decreases in between.

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

Kavery Nagar Beach 1st Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Kavery Nagar Beach 1st Street?

The Sub Registrar Office for Kavery Nagar Beach 1st Street is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Kavery Nagar Beach 1st Street?

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