Guideline Value for Kaviarasu Kannadasan Nagar 6th Block 7th Cross Street

Kaviarasu Kannadasan Nagar 6th Block 7th Cross Street guideline value

The current guideline value for Kaviarasu Kannadasan Nagar 6th Block 7th 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 7th Cross Street has changed

Over the years, the guideline value for Kaviarasu Kannadasan Nagar 6th Block 7th Cross Street has seen several revisions. 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 value rose significantly to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures 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 2024. The median guideline value in the village is Rs 2,700 per sq.ft, placing Kaviarasu Kannadasan Nagar 6th Block 7th Cross Street above this median.

• Kaviarasu Kannadasan Nagar 6th Block 6th Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 6th Main Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 6th Block 5th Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 6th Main Road: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 6th Block 4th Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 7th Block 10th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kaviarasu Kannadasan Nagar 6th Block 7th 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, while the registration fee at 2% would be Rs 66,000. Together, the total fees would be 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaviarasu Kannadasan Nagar 6th Block 7th Cross Street?

The Kaviarasu Kannadasan Nagar 6th Block 7th Cross Street falls under the jurisdiction of 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

When buying or selling property in Kodungaiyur, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum price at which a property can be registered.

It is essential to be aware that the registration process requires the payment of stamp duty based on the higher value between the guideline value and the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kaviarasu Kannadasan Nagar 6th Block 7th Cross Street?

The current guideline value for Kaviarasu Kannadasan Nagar 6th Block 7th 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, 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 is the land classification of Kaviarasu Kannadasan Nagar 6th Block 7th Cross Street?

Kaviarasu Kannadasan Nagar 6th Block 7th 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 Kodungaiyur?

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