Guideline Value for Kaviarasu Kannadasan Nagar 2nd Block 4th Street

Kaviarasu Kannadasan Nagar 2nd Block 4th Street guideline value

The current guideline value for Kaviarasu Kannadasan Nagar 2nd Block 4th 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 4th Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 3,000 per sq.ft in the 2023 revision, and then further increased to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% rise from the previous year. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, the change was a decrease of 33%. However, the overall change from 2012 to 2024 is an increase of 10%. The jump from 2017 to 2023 was a notable increase of 49%.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft in 2024. The median value for these streets is Rs 2,700 per sq.ft, placing Kaviarasu Kannadasan Nagar 2nd Block 4th Street above the median.

• Kaviarasu Kannadasan Nagar 2nd Block 1st Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 2nd Block 2nd 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 2nd Block 4th Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 2nd Block 5th Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 2nd Block 6th Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 2nd Block 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kaviarasu Kannadasan Nagar 2nd Block 4th 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, and the registration fee at 2% would be Rs 66,000, bringing the total to 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 the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Kaviarasu Kannadasan Nagar 2nd Block 4th Street?

The Kaviarasu Kannadasan Nagar 2nd Block 4th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and fairly.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value for Kaviarasu Kannadasan Nagar 2nd Block 4th Street?

The current guideline value for Kaviarasu Kannadasan Nagar 2nd Block 4th 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 seen various changes, starting from Rs 3,000 per sq.ft in 2012, dropping to Rs 2,010 per sq.ft in 2017, and then increasing to Rs 3,000 per sq.ft in 2023, followed by a rise to Rs 3,300 per sq.ft in 2024.

What is the land classification for Kaviarasu Kannadasan Nagar 2nd Block 4th Street?

Kaviarasu Kannadasan Nagar 2nd Block 4th Street is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft property, the total costs can amount to Rs 2,97,000.

Which office handles registrations for Kaviarasu Kannadasan Nagar 2nd Block 4th Street?

The Madhavaram Sub Registrar Office handles registrations for Kaviarasu Kannadasan Nagar 2nd Block 4th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.