Guideline Value for Kavery Nagar Beach 3rd Street

Kavery Nagar Beach 3rd Street guideline value

The current guideline value of Kavery Nagar Beach 3rd 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 3rd Street has changed

The guideline value for Kavery Nagar Beach 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. This marked a decline of 33%. However, the value rebounded significantly in the subsequent revisions, reaching Rs 3,000 per sq.ft in 2023, and then increasing to Rs 3,300 per sq.ft in the 2024 revision, which is a 10% rise from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. 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 in this area is Rs 3,900 per sq.ft, placing Kavery Nagar Beach 3rd Street's 2024 figure below that median.

• Kavery Nagar Beach 2nd Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar Beach 4th Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar Beach 1st Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar Beach 5th Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Kavery Nagar (Main Road): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kavery Nagar Beach 3rd 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, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

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

The Kavery Nagar Beach 3rd Street falls under the jurisdiction of 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 process 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 the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair price for the transaction. It is essential for buyers to be aware of the guideline value to ensure they are not overpaying for a property, while sellers can use it to set a competitive price.

Frequently asked questions

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

The current guideline value of Kavery Nagar Beach 3rd 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 to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the median guideline value in Kottivakkam?

The median guideline value in Kottivakkam is Rs 3,900 per sq.ft, which is higher than the current guideline value of Kavery Nagar Beach 3rd Street.

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

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

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

The Adayar Sub Registrar Office, which covers Kavery Nagar Beach 3rd Street, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.