Guideline Value for Kaviarasu Kannadasan Nagar 9th Block 2nd Street

Kaviarasu Kannadasan Nagar 9th Block 2nd Street guideline value

The current guideline value of Kaviarasu Kannadasan Nagar 9th Block 2nd 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 9th Block 2nd Street has changed

The guideline value for Kaviarasu Kannadasan Nagar 9th Block 2nd Street has undergone several revisions over the years. 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. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 3,000 per sq.ft. The most recent revision in 2024 has further increased the value to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

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

Guideline values in Kodungaiyur

Kodungaiyur has a total of 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. The median value for the village is Rs 2,700 per sq.ft, positioning Kaviarasu Kannadasan Nagar 9th Block 2nd Street above this median.

• Kaviarasu Kannadasan Nagar 9th Block 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 9th Block 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 9th Block 1st Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 9th Block 3rd Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 9th Block 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Kaviarasu Kannadasan Nagar 9th Block 4th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kaviarasu Kannadasan Nagar 9th Block 2nd 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. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kaviarasu Kannadasan Nagar 9th Block 2nd Street?

The Kaviarasu Kannadasan Nagar 9th Block 2nd Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor during 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 legal requirements during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. 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 9th Block 2nd Street?

The current guideline value of Kaviarasu Kannadasan Nagar 9th Block 2nd 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, which represented a 49% increase from the previous value of Rs 3,000 per sq.ft in 2012.

What is the land classification for this street?

Kaviarasu Kannadasan Nagar 9th Block 2nd Street is classified as Residential Special Type - I. This classification affects the property's use and potential development.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 2,97,000 in fees.

Which Sub Registrar Office is responsible for Kaviarasu Kannadasan Nagar 9th Block 2nd Street?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, is responsible for Kaviarasu Kannadasan Nagar 9th Block 2nd Street.