Guideline Value for Kaviarasu Kannadasan Nagar 5th Main Cross Street

Kaviarasu Kannadasan Nagar 5th Main Cross Street guideline value

The current guideline value for Kaviarasu Kannadasan Nagar 5th Main 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 is classified as Residential Special Type - I.

How the guideline value of Kaviarasu Kannadasan Nagar 5th Main Cross Street has changed

The guideline value for this street has seen 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. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the latest 2024 revision has raised it further to Rs 3,300 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the revisions, the changes are significant. From 2017 to 2023, there was an increase of 49%, while the 2023 to 2024 revision reflects a 10% increase. 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 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 5th Main Cross Street is above this median.

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

Stamp duty and registration fee for property in Kaviarasu Kannadasan Nagar 5th Main Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaviarasu Kannadasan Nagar 5th Main Cross Street?

The Kaviarasu Kannadasan Nagar 5th Main Cross 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 stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at an appropriate value, which helps in maintaining transparency and accountability in real estate dealings.

Frequently asked questions

What is the current guideline value for Kaviarasu Kannadasan Nagar 5th Main Cross Street?

The current guideline value for Kaviarasu Kannadasan Nagar 5th Main Cross 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 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 5th Main Cross Street is classified as Residential Special Type - I.

Which office handles registrations for this area?

The Madhavaram Sub Registrar Office handles registrations for Kaviarasu Kannadasan Nagar 5th Main Cross Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in this area?

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