Guideline Value for Kaviarasu Kannadasan Nagar 5th Block 7th Street

Kaviarasu Kannadasan Nagar 5th Block 7th Street guideline value

The current guideline value for Kaviarasu Kannadasan Nagar 5th Block 7th 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 the land classification is Residential Special Type - I.

How the guideline value of Kaviarasu Kannadasan Nagar 5th Block 7th Street has changed

The guideline value for Kaviarasu Kannadasan Nagar 5th Block 7th Street has undergone several revisions over the years. Starting from the 2012 revision, the guideline was set at Rs 3,000 per sq.ft. In the 2017 revision, it decreased to Rs 2,010 per sq.ft, marking a decline of 33%. However, the value saw a significant increase in the following revisions, with the 2023 revision bringing it back up to Rs 3,000 per sq.ft, and the latest 2024 revision increasing it further to Rs 3,300 per sq.ft, a rise of 10% from the previous year.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has risen by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

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 as of the 2024 revision. The median value for these streets is Rs 2,700 per sq.ft, placing Kaviarasu Kannadasan Nagar 5th Block 7th Street above this median.

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

Stamp duty and registration fee for property in Kaviarasu Kannadasan Nagar 5th Block 7th 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, bringing the total fees together 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.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaviarasu Kannadasan Nagar 5th Block 7th Street?

The Kaviarasu Kannadasan Nagar 5th Block 7th Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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 it directly impacts the fees payable during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the property's worth as per the established guidelines.

Frequently asked questions

What is the current guideline value for Kaviarasu Kannadasan Nagar 5th Block 7th Street?

The current guideline value for Kaviarasu Kannadasan Nagar 5th Block 7th 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 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing significant fluctuations over the years.

What are the registration fees based on the guideline value?

The registration fees are calculated based on the guideline value, which is Rs 3,300 per sq.ft for Kaviarasu Kannadasan Nagar 5th Block 7th Street. For a 1,000 sq.ft plot, the total registration fee would amount to Rs 66,000 at 2% of the guideline value.

Which Sub Registrar Office covers this area?

The Madhavaram Sub Registrar Office covers Kaviarasu Kannadasan Nagar 5th Block 7th Street. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum price at which a property can be registered. It affects the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price during property transactions.