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

Kaviarasu Kannadasan Nagar 7th Block 3rd Street guideline value

The current guideline value of Kaviarasu Kannadasan Nagar 7th Block 3rd 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 7th Block 3rd Street has changed

Over the years, the guideline value for Kaviarasu Kannadasan Nagar 7th Block 3rd 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, marking a decline of 33%. However, the latest 2024 revision has increased the guideline value to Rs 3,300 per sq.ft, representing a significant rise of 64% from 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street. This lack of data indicates that the guideline value has experienced fluctuations over the years, with the most recent value being the highest recorded.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO that carry a guideline value for 2024, 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 current value of Kaviarasu Kannadasan Nagar 7th Block 3rd Street above the median.

• Kaviarasu Kannadasan Nagar 7th Block 3rd 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 2nd Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 7th Block 4th 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 5th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kaviarasu Kannadasan Nagar 7th Block 3rd 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 at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaviarasu Kannadasan Nagar 7th Block 3rd Street?

The Kaviarasu Kannadasan Nagar 7th Block 3rd 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 critical factor in property transactions within Kodungaiyur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

Additionally, the guideline value serves as a reference point for property valuation, influencing the overall process of property registration. It is essential for buyers and sellers to be informed about the current guideline value to make educated decisions during their property dealings.

Frequently asked questions

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

The current guideline value of Kaviarasu Kannadasan Nagar 7th Block 3rd 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 reflects a decline of 33% from 2012 to 2017, followed by a rise of 64% from 2017 to 2024.

What is the land classification for this street?

Kaviarasu Kannadasan Nagar 7th Block 3rd Street is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

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. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Kaviarasu Kannadasan Nagar 7th Block 3rd Street?

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