Guideline Value for Kaviarasu Kannadasan Street

Kaviarasu Kannadasan Street guideline value

The current guideline value of Kaviarasu Kannadasan Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Kaviarasu Kannadasan Street has changed

The guideline value for Kaviarasu Kannadasan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value increased to Rs 1,005 per sq.ft, marking a decrease of 33%. The subsequent 2023 revision raised the value to Rs 1,500 per sq.ft, and the latest 2024 revision further increased it to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Kaviarasu Kannadasan Street.

• Kaveri Street: Rs 1,650 per sq.ft (2024)
• Kennedy St: Rs 1,650 per sq.ft (2024)
• Kasthuribai Street: Rs 1,650 per sq.ft (2024)
• Kirupanandavariyar Street: Rs 1,650 per sq.ft (2024)
• Karunanithi St: Rs 1,650 per sq.ft (2024)
• Karthik Avenue Annex: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kaviarasu Kannadasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, these fees would total Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kaviarasu Kannadasan Street?

The Sub Registrar Office covering Kaviarasu Kannadasan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the sale or purchase of property.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Kaviarasu Kannadasan Street?

The current guideline value of Kaviarasu Kannadasan Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and an increase in 2023.

What are the other streets with the same guideline value in Chitlapakkam?

Other streets in Chitlapakkam with the same guideline value of Rs 1,650 per sq.ft include Kaveri Street, Kennedy St, Kasthuribai Street, Kirupanandavariyar Street, Karunanithi St, and Karthik Avenue Annex.

How is stamp duty calculated for properties in Kaviarasu Kannadasan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.

Where is the Sub Registrar Office for Kaviarasu Kannadasan Street located?

The Sub Registrar Office for Kaviarasu Kannadasan Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.