Guideline Value for Kaviarasu Kannadasan Nagar 7th Block 2nd Cross Street

Kaviarasu Kannadasan Nagar 7th Block 2nd Cross Street guideline value

The current guideline value of Kaviarasu Kannadasan Nagar 7th Block 2nd 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 7th Block 2nd Cross Street has changed

The guideline value for Kaviarasu Kannadasan Nagar 7th Block 2nd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a significant increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, making the value for Kaviarasu Kannadasan Nagar 7th Block 2nd Cross Street above the median.

• Kaviarasu Kannadasan Nagar 7th Block 1st Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 7th Block 2nd Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 7th Block 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 7th Block 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 7th Block 10th Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 7th Block 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kaviarasu Kannadasan Nagar 7th Block 2nd 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 amounts to Rs 33,00,000. The stamp duty is charged at 7%, which totals Rs 2,31,000, and the registration fee is 2%, amounting to Rs 66,000. Therefore, the total cost for stamp duty and registration fees together is Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaviarasu Kannadasan Nagar 7th Block 2nd Cross Street?

The Kaviarasu Kannadasan Nagar 7th Block 2nd Cross 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 price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures transparency in property transactions and helps in maintaining accurate records in the registration system.

Frequently asked questions

What is the current guideline value for Kaviarasu Kannadasan Nagar 7th Block 2nd Cross Street?

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

What are the stamp duty and registration fees for property in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total stamp duty and registration fees amount to Rs 2,97,000.

Which office registers properties in Kaviarasu Kannadasan Nagar?

The Madhavaram Sub Registrar Office registers properties in Kaviarasu Kannadasan Nagar. The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the median guideline value in Kodungaiyur?

The median guideline value in Kodungaiyur is Rs 2,700 per sq.ft. The guideline value for Kaviarasu Kannadasan Nagar 7th Block 2nd Cross Street is above this median at Rs 3,300 per sq.ft.