Guideline Value for Kavimani Nagar

Kavimani Nagar guideline value

The current guideline value of Kavimani Nagar, located in S. Kullathur village under the Pallavaram SRO, is Rs 2,530 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - II land classification.

How the guideline value of Kavimani Nagar has changed

The guideline value for Kavimani Nagar has undergone several revisions over the years. In the 2007 revision, the value was Rs 750 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012. However, this was followed by a decrease to Rs 1,541 per sq.ft in 2017. The 2023 revision saw a rise to Rs 2,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,530 per sq.ft, reflecting a 27% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 237%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in S. Kullathur

In S. Kullathur, there are 71 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,400 per sq.ft. The median guideline value in this village is Rs 2,750 per sq.ft, indicating that Kavimani Nagar's 2024 figure is below this median.

• Kavimani Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Krishna Nagar: Rs 2,530 per sq.ft (2024)
• Krishna Nagar 1st Main Road: Rs 2,530 per sq.ft (2024)
• Kulathur Main Road: Rs 4,400 per sq.ft (2024)
• Lakshmi Narayanan Nagar: Rs 2,530 per sq.ft (2024)
• Kakithapuram 1 To 5 Streets: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kavimani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, while the registration fee at 2% would be Rs 50,600. Together, the total fees would be Rs 2,27,700. It's important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kavimani Nagar?

The Sub Registrar Office that covers Kavimani Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 S. Kullathur

The guideline value is a crucial factor in the registration process when buying or selling property in S. Kullathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kavimani Nagar?

The current guideline value of Kavimani Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, reflecting a significant increase of 237% over the years.

What is the median guideline value in S. Kullathur?

The median guideline value in S. Kullathur is Rs 2,750 per sq.ft, which is higher than the current value of Kavimani Nagar.

What are the stamp duty and registration fees for Kavimani Nagar?

For a 1,000 sq.ft plot in Kavimani Nagar, the total guideline value is Rs 25,30,000, leading to a stamp duty of Rs 1,77,100 and a registration fee of Rs 50,600, totaling Rs 2,27,700.

Which office handles property registration for Kavimani Nagar?

The Pallavaram Sub Registrar Office handles property registration for Kavimani Nagar, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.