Guideline Value for Kavery Street

Kavery Street guideline value

The current guideline value of Kavery Street in Saligramam village, under the Virugambakkam SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - III.

How the guideline value of Kavery Street has changed

The guideline value for Kavery Street has seen significant changes over the years. In the 2007 revision, the value was Rs 1,500 per sq.ft, which rose to Rs 5,000 per sq.ft in 2012, reflecting an increase of 233%. However, in the 2017 revision, the value decreased to Rs 3,350 per sq.ft, a decline of 33%. The value then increased to Rs 5,000 per sq.ft in 2023, before reaching the current value of Rs 5,500 per sq.ft in 2024, marking a 10% increase.

Overall, from the 2007 revision to the 2024 revision, Kavery Street has experienced a remarkable increase of 267%. The revisions for the years 2002 and 2003 do not have figures recorded for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for the area is Rs 4,400 per sq.ft, placing Kavery Street's 2024 figure above this median.

• Kaveri Rangan Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - Pillayar Koil Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - M.G.R. Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - KottaiMadakkarar Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - Kodambakkam Pudur Road: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - Kesava Street: Rs 5,500 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 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kavery Street?

Kavery Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

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

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and financial purposes. Buyers and sellers must be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Kavery Street?

The current guideline value of Kavery Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,500 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 267%.

What is the land classification for Kavery Street?

Kavery Street is classified as Residential Special Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Kavery Street?

The Sub Registrar Office covering Kavery Street is the Virugambakkam SRO, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Kavery Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a plot of 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would amount to Rs 4,95,000.