Guideline Value for Kavery Nagar

Kavery Nagar guideline value

The current guideline value of Kavery Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is part of Grandlyon village, under the jurisdiction of the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kavery Nagar has changed

The guideline value for Kavery Nagar has seen several revisions over the years. Starting from Rs 200 per sq.ft in 2007, it increased to Rs 400 per sq.ft in 2012. However, it then decreased to Rs 268 per sq.ft in 2017. The value rose significantly to Rs 400 per sq.ft in 2023 and further increased to the current rate of Rs 440 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2023 to 2024 reflects a 10% rise. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft, with the median being Rs 660 per sq.ft. Kavery Nagar's 2024 figure is below this median.

• Kattabomman Street: Rs 660 per sq.ft (2024)
• Karpagam Nagar Annex: Rs 880 per sq.ft (2024)
• Karpagam Nagar: Rs 880 per sq.ft (2024)
• Karikal Cholan Salai: Rs 660 per sq.ft (2024)
• Karalmarks Nagar: Rs 660 per sq.ft (2024)
• Krishna Nagar Annexe - III: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kavery Nagar

For a 1,000 sq.ft plot at the current rate of Rs 440 per sq.ft, the guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kavery Nagar?

Kavery Nagar falls under the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Grandlyon. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Kavery Nagar?

The current guideline value of Kavery Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 120% over this period.

What are the stamp duty and registration fees for Kavery Nagar?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles registrations for Kavery Nagar?

The Redhills Sub Registrar Office handles registrations for Kavery Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Kavery Nagar?

Kavery Nagar is classified as Residential Class III Type - I, indicating its designation for residential use within the area.