Guideline Value for Kaviarasu Kannadasan Nagar 2nd Block 1st Street

Kaviarasu Kannadasan Nagar 2nd Block 1st Street guideline value

The current guideline value of Kaviarasu Kannadasan Nagar 2nd Block 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Special Type - I.

How the guideline value of Kaviarasu Kannadasan Nagar 2nd Block 1st Street has changed

In the 2012 revision, the guideline value was set at Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a reduction of 33%. The value then increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and further rose to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register has no figures for the years 2002, 2003, and 2007 for this street. The 2023 revision saw a significant increase of 49% from the 2017 figure, which illustrates the fluctuations in the guideline value over the years.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Kaviarasu Kannadasan Nagar 2nd Block 1st Street is above this median.

• Kaviarasu Kannadasan Nagar 1st Main Road: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 2nd Block 2nd Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 1st Block 4th Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 2nd Block 3rd Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 1st Block 4th Lane: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 2nd Block 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kaviarasu Kannadasan Nagar 2nd Block 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these fees would total Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kaviarasu Kannadasan Nagar 2nd Block 1st Street?

The Kaviarasu Kannadasan Nagar 2nd Block 1st Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kodungaiyur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to provide accurate information regarding the guideline value to ensure compliance with local regulations. This value is regularly updated to reflect changes in the real estate market and land classification.

Frequently asked questions

What is the current guideline value of Kaviarasu Kannadasan Nagar 2nd Block 1st Street?

The current guideline value of Kaviarasu Kannadasan Nagar 2nd Block 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for this street?

Kaviarasu Kannadasan Nagar 2nd Block 1st Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for this street?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 33,00,000, with a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers this street?

The Madhavaram Sub Registrar Office covers Kaviarasu Kannadasan Nagar 2nd Block 1st Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.