Guideline Value for Kavi Kalidas Street

Kavi Kalidas Street guideline value

The current guideline value of Kavi Kalidas Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kavi Kalidas Street has changed

The guideline value for Kavi Kalidas Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft, before climbing to Rs 2,500 per sq.ft in the 2023 revision. The most recent 2024 revision has established the guideline value at Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 170%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Kavi Kalidas Street's 2024 guideline value is below this median.

• Karupannasamy Nagar: Rs 2,200 per sq.ft (2024)
• Kolathur Housing Board Tenament East Street: Rs 2,700 per sq.ft (2024)
• Kolathur Housing Board Tenament North Street: Rs 2,700 per sq.ft (2024)
• Kolathur Housing Board Tenament South Street: Rs 2,700 per sq.ft (2024)
• Kolathur Housing Board Tenament West 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Kolathur Housing Board Tenament West 2nd Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kavi Kalidas Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, these fees would total Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kavi Kalidas Street?

Kavi Kalidas Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kolathur, as it is used to determine the minimum value at which a property can be registered. When buying or selling a property, the guideline value helps establish the baseline for stamp duty and registration fees, ensuring that these costs are calculated fairly based on the property's value.

Additionally, the guideline value serves as a reference point for buyers and sellers, providing transparency in property transactions. It helps in assessing the value of a property in relation to similar properties in the area, thereby facilitating informed decision-making.

Frequently asked questions

What is the current guideline value of Kavi Kalidas Street?

The current guideline value of Kavi Kalidas Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 170% over the years.

What is the land classification for Kavi Kalidas Street?

Kavi Kalidas Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,700 per sq.ft would incur a total of Rs 2,43,000 in fees.