Guideline Value for Kaviarasu Kannadasan Nagar 3rd Block 2nd Lane

Kaviarasu Kannadasan Nagar 3rd Block 2nd Lane guideline value

The current guideline value of Kaviarasu Kannadasan Nagar 3rd Block 2nd Lane is Rs 3,300 per sq.ft. This property 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 3rd Block 2nd Lane has changed

The guideline value has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 3,000 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, making the guideline value for Kaviarasu Kannadasan Nagar 3rd Block 2nd Lane above this median.

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

Stamp duty and registration fee for property in Kaviarasu Kannadasan Nagar 3rd Block 2nd Lane

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, bringing the total to Rs 2,97,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kaviarasu Kannadasan Nagar 3rd Block 2nd Lane?

The Kaviarasu Kannadasan Nagar 3rd Block 2nd Lane is covered by 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 an important factor in the registration process of property transactions. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

When buying or selling property in Kodungaiyur, it is essential to be aware of the current guideline value as it directly impacts the costs involved in the transaction. Accurate knowledge of these values helps in ensuring compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Kaviarasu Kannadasan Nagar 3rd Block 2nd Lane?

The current guideline value of Kaviarasu Kannadasan Nagar 3rd Block 2nd Lane 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 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the classification of land in Kaviarasu Kannadasan Nagar 3rd Block 2nd Lane?

The land classification for Kaviarasu Kannadasan Nagar 3rd Block 2nd Lane is Residential Special Type - I.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can also find your SRO online.