Guideline Value for Kaviarasu Kannadasan Nagar 6th Block 1st Cross Street

Kaviarasu Kannadasan Nagar 6th Block 1st Cross Street guideline value

The current guideline value for Kaviarasu Kannadasan Nagar 6th Block 1st 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 is classified as Residential Special Type - I.

How the guideline value of Kaviarasu Kannadasan Nagar 6th Block 1st Cross Street has changed

Over the years, the guideline value for Kaviarasu Kannadasan Nagar 6th Block 1st Cross Street has seen several revisions. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 3,000 per sq.ft. Prior to that, in 2017, the value was Rs 2,010 per sq.ft, reflecting a significant increase of 49% over the six years leading to 2023. The 2012 revision also recorded a value of Rs 3,000 per sq.ft, showing a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register has no figures for the years 2002, 2003, and 2007 for this street. Thus, the first recorded value for this street was in 2012, and it has been revised subsequently in 2017, 2023, and 2024.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values in 2024 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 6th Block 1st Cross Street above this median.

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

Stamp duty and registration fee for property in Kaviarasu Kannadasan Nagar 6th Block 1st 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 fees 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 also use our stamp duty and registration fee calculator for more accurate estimations.

Which Sub Registrar Office covers Kaviarasu Kannadasan Nagar 6th Block 1st Cross Street?

The Kaviarasu Kannadasan Nagar 6th Block 1st Cross Street is covered by 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 property transactions in Kodungaiyur. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property. Buyers and sellers must consider this value when negotiating sale prices, as it directly impacts the overall transaction costs.

When registering property, it is essential to provide accurate information regarding the guideline value. This value helps the authorities determine the appropriate fees to be levied, ensuring compliance with local regulations and preventing any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value for Kaviarasu Kannadasan Nagar 6th Block 1st Cross Street?

The current guideline value for Kaviarasu Kannadasan Nagar 6th Block 1st 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 2023 to Rs 3,300 per sq.ft in 2024, an increase of 10%. From 2017 to 2023, it rose from Rs 2,010 per sq.ft to Rs 3,000 per sq.ft, a 49% increase.

What is the land classification of Kaviarasu Kannadasan Nagar 6th Block 1st Cross Street?

Kaviarasu Kannadasan Nagar 6th Block 1st Cross Street is classified as Residential Special Type - I.

Which office handles registrations for properties in this area?

The Madhavaram Sub Registrar Office handles registrations for properties in Kaviarasu Kannadasan Nagar 6th Block 1st Cross Street. The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

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

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