Guideline Value for Kavery Nagar Beach 5th Street

Kavery Nagar Beach 5th Street guideline value

The current guideline value of Kavery Nagar Beach 5th 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 5th Street has changed

The guideline value for Kavery Nagar Beach 5th Street has undergone several revisions over the years. The oldest available figure is from 2012, where the value was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, and finally, it increased to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

In summary, the changes between revisions are notable. From 2017 to 2023, there was a significant increase of 49%. However, the 2012 to 2017 period saw a decrease of 33%. 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 village, there are 284 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, positioning Kavery Nagar Beach 5th Street's 2024 figure below the median.

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

Stamp duty and registration fee for property in Kavery Nagar Beach 5th 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 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 Beach 5th Street?

The Kavery Nagar Beach 5th 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 for property transactions in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kavery Nagar Beach 5th Street?

The current guideline value of Kavery Nagar Beach 5th 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 land classification for Kavery Nagar Beach 5th Street?

Kavery Nagar Beach 5th Street is classified as Residential Class III Type - I.

What is the registration office for Kavery Nagar Beach 5th Street?

The registration office for Kavery Nagar Beach 5th Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Kavery Nagar Beach 5th Street?

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