Guideline Value for Kaviarasu Kannadasan Nagar 8th Block 4th Cross Street

Kaviarasu Kannadasan Nagar 8th Block 4th Cross Street guideline value

The current guideline value of Kaviarasu Kannadasan Nagar 8th Block 4th 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 8th Block 4th Cross Street has changed

Over the years, the guideline value for Kaviarasu Kannadasan Nagar 8th Block 4th Cross Street has seen several revisions. The 2012 revision recorded a guideline value of Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 3,000 per sq.ft. The most recent 2024 revision has further increased this value to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for this street in the register for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kodungaiyur

Kodungaiyur has a range of guideline values, with 1318 streets under the Madhavaram SRO carrying a 2024 figure between Rs 1,900 and Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Kaviarasu Kannadasan Nagar 8th Block 4th Cross Street's 2024 figure above this median.

• Kaviarasu Kannadasan Nagar 8th Block 3th Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 8th Block 4th Lane: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 8th Block 3rd Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 8th Block 4th Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 8th Block 3rd Lane: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 8th Block 5th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kaviarasu Kannadasan Nagar 8th Block 4th 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 at 7% would be 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 and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kaviarasu Kannadasan Nagar 8th Block 4th Cross Street?

The Kaviarasu Kannadasan Nagar 8th Block 4th Cross Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, click here.

How the guideline value is used when you buy or sell in Kodungaiyur

The guideline value is a crucial factor during the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value, as it influences the costs associated with the transaction. This value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer.

Frequently asked questions

What is the current guideline value of Kaviarasu Kannadasan Nagar 8th Block 4th Cross Street?

The current guideline value of Kaviarasu Kannadasan Nagar 8th Block 4th 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, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024. This reflects a significant increase in recent years.

What is the land classification for this street?

Kaviarasu Kannadasan Nagar 8th Block 4th Cross Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for property transactions?

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 office handles the registration for this area?

The Madhavaram Sub Registrar Office handles the registration for Kaviarasu Kannadasan Nagar 8th Block 4th Cross Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.