Guideline Value for Kavery Nagar

Kavery Nagar guideline value

The current guideline value of Kavery Nagar is Rs 410 per sq.ft, effective from 1 July 2024. This area is located in Vallam village, under the Sriperumpudur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kavery Nagar has changed

The guideline value of Kavery Nagar has seen significant changes over the years. In 2007, the value was Rs 75 per sq.ft, which increased to Rs 400 per sq.ft in 2012, marking a substantial rise of 433%. However, from 2012 to 2017, the value decreased by 33% to Rs 268 per sq.ft. The value then rose sharply to Rs 400 per sq.ft in 2023, reflecting a 49% increase.

The latest revision in 2024 has set the guideline value at Rs 410 per sq.ft, a 3% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vallam

In Vallam village, there are 51 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,950 per sq.ft, with a median value of Rs 200 per sq.ft. Kavery Nagar's 2024 figure is above this median.

• Kumaran Nagar: Rs 200 per sq.ft (2024)
• Kamachi Nagar: Rs 200 per sq.ft (2024)
• Little Farms: Rs 200 per sq.ft (2024)
• Madha Koil Street: Rs 200 per sq.ft (2024)
• Jemi Housing VMR Nagar Phase 3: Rs 200 per sq.ft (2024)
• Mariyamman Koil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Kavery Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 410 per sq.ft, the total guideline value amounts to Rs 4,10,000. The stamp duty at 7% would be Rs 28,700, and the registration fee at 2% would be Rs 8,200, bringing the total fees to Rs 36,900. 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 jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Vallam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

When selling property, the guideline value helps both buyers and sellers understand the minimum value at which a property can be registered. It serves as a benchmark for transactions, providing clarity and transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Kavery Nagar?

The current guideline value of Kavery Nagar is Rs 410 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2007 to Rs 410 per sq.ft in 2024, reflecting an overall increase of 447% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 4,10,000, resulting in a stamp duty of Rs 28,700 and a registration fee of Rs 8,200, totaling Rs 36,900.

Which office handles registrations for Kavery Nagar?

The Sriperumpudur Sub Registrar Office handles registrations for Kavery Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the land classification of Kavery Nagar?

Kavery Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.