Guideline Value for Kavery Street

Kavery Street guideline value

The current guideline value of Kavery Street in Adambakkam village, under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Kavery Street has changed

The guideline value for Kavery Street has seen significant changes over the years. In 2002, the value was Rs 282 per sq.ft, which increased to Rs 650 per sq.ft in 2003, marking a 130% rise. The value continued to grow, reaching Rs 900 per sq.ft in 2007, a 38% increase from the previous year. By 2012, the value was Rs 3,500 per sq.ft, a substantial 289% increase from 2007. However, this figure dropped by 33% to Rs 2,345 per sq.ft in 2017.

Moving forward, the guideline value increased to Rs 3,500 per sq.ft in 2023, reflecting a 49% rise from 2017. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, which is an 11% increase from the previous year. There are no figures available for the revisions in years other than those listed.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is the same as the guideline value for Kavery Street.

• Kesari Nagar 1st Street: Rs 3,900 per sq.ft (2024)
• Kesari Nagar 2nd Street: Rs 3,900 per sq.ft (2024)
• Kesari Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Kesari Nagar 4th Street: Rs 3,900 per sq.ft (2024)
• Kesari Nagar 4th street Extension: Rs 3,900 per sq.ft (2024)
• Kesari Nagar 5th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kavery Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kavery Street?

The Sub Registrar Office that covers Kavery Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Adambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges reflect the official value of the property. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

When a property is sold, the guideline value helps determine the minimum value on which stamp duty is levied. This means that if the sale price is lower than the guideline value, the duty will be calculated based on the guideline value instead, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kavery Street?

The current guideline value of Kavery Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 282 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1283% over the years.

What are the stamp duty and registration fees for properties on Kavery Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 39,00,000. The stamp duty at 7% is Rs 2,73,000, and the registration fee at 2% is Rs 78,000, totaling Rs 3,51,000.

Which office handles registrations for Kavery Street?

The Alandur Sub Registrar Office handles registrations for Kavery Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It serves as a benchmark to ensure that the fees reflect the official value of the property being sold or purchased.