Guideline Value for Kaviarasu Kannadasan Nagar 5th Block 3rd Cross Street

Kaviarasu Kannadasan Nagar 5th Block 3rd Cross Street guideline value

The current guideline value for Kaviarasu Kannadasan Nagar 5th Block 3rd Cross 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 it falls under the Residential Special Type - I land classification.

How the guideline value of Kaviarasu Kannadasan Nagar 5th Block 3rd Cross Street has changed

The guideline value for Kaviarasu Kannadasan Nagar 5th Block 3rd Cross Street has undergone several revisions over the years. In the 2017 revision, the guideline value was Rs 2,010 per sq.ft. The latest revision in 2024 has increased this figure to Rs 3,300 per sq.ft, marking a significant increase of 64% from the 2017 value.

It is important to note that there are no figures available for this street in the revisions of 2023, 2012, 2007, 2003, and 2002. Thus, the only registered figures for this street are from 2017 and 2024.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO carrying a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Kaviarasu Kannadasan Nagar 5th Block 3rd Cross Street above this median.

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

Stamp duty and registration fee for property in Kaviarasu Kannadasan Nagar 5th Block 3rd Cross 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 cost to Rs 2,97,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations based on your specific property details.

Which Sub Registrar Office covers Kaviarasu Kannadasan Nagar 5th Block 3rd Cross Street?

The Kaviarasu Kannadasan Nagar 5th Block 3rd Cross Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented accurately according to the prevailing rates.

When registering a property, buyers and sellers must consider the guideline value to calculate applicable fees such as stamp duty and registration charges. This value helps in maintaining transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value for Kaviarasu Kannadasan Nagar 5th Block 3rd Cross Street?

The current guideline value for Kaviarasu Kannadasan Nagar 5th Block 3rd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, reflecting a 64% increase. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002.

What is the land classification for this street?

Kaviarasu Kannadasan Nagar 5th Block 3rd Cross Street is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at the rate of 7%.