Guideline Value for Kaviarasu Kannadasan Nagar 7th Block 3rd Cross Street

Kaviarasu Kannadasan Nagar 7th Block 3rd Cross Street guideline value

The current guideline value of Kaviarasu Kannadasan Nagar 7th Block 3rd 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, classified as Residential Special Type - I.

How the guideline value of Kaviarasu Kannadasan Nagar 7th Block 3rd Cross Street has changed

The guideline value for Kaviarasu Kannadasan Nagar 7th Block 3rd Cross Street has undergone several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017. However, the most recent revision in 2024 saw an increase to Rs 3,300 per sq.ft, marking a 64% rise from the 2017 figure and an overall increase of 10% from the 2012 figure.

It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street. The changes between the revisions illustrate a significant fluctuation in the guideline value, particularly the sharp rise from 2017 to 2024.

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 7th Block 3rd Cross Street is above this median.

• Kaviarasu Kannadasan Nagar 7th Block 2nd Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 7th Block 3rd Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 7th Block 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 7th Block 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 7th Block 1st Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 7th Block 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kaviarasu Kannadasan Nagar 7th Block 3rd 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, totaling Rs 2,97,000. 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 7th Block 3rd Cross Street?

The Kaviarasu Kannadasan Nagar 7th Block 3rd 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 plays a crucial role in property transactions in Kodungaiyur. It is used as a basis for calculating the stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the guideline value to ensure accurate financial planning when engaging in property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that all transactions are aligned with the official valuation set by the Registration Department.

Frequently asked questions

What is the current guideline value of Kaviarasu Kannadasan Nagar 7th Block 3rd Cross Street?

The current guideline value of Kaviarasu Kannadasan Nagar 7th Block 3rd 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, and then increased to Rs 3,300 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024 and an overall increase of 10% from 2012 to 2024.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers this street?

The Madhavaram Sub Registrar Office covers Kaviarasu Kannadasan Nagar 7th Block 3rd Cross Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Kaviarasu Kannadasan Nagar 7th Block 3rd Cross Street?

The land classification for Kaviarasu Kannadasan Nagar 7th Block 3rd Cross Street is Residential Special Type - I, indicating its suitability for residential development.