Guideline Value for Kaviya Garden 1st Street

Kaviya Garden 1st Street guideline value

The current guideline value of Kaviya Garden 1st Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO, classified as Residential Special Type - II.

How the guideline value of Kaviya Garden 1st Street has changed

The guideline value for Kaviya Garden 1st Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,520 per sq.ft, which is an increase of 10% from Rs 3,200 per sq.ft in the 2023 revision. Prior to that, the value was Rs 2,144 per sq.ft in 2017, reflecting a significant increase of 49% over the six years.

In earlier revisions, the value was Rs 3,200 per sq.ft in 2012, which represented a decrease of 33% from the 2017 figure. The register has no figures for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, placing Kaviya Garden 1st Street's 2024 figure below this median.

• Kaviya Garden 2nd Street: Rs 3,520 per sq.ft (2024)
• Kaviya Garden: Rs 3,520 per sq.ft (2024)
• Kaviya Gardan Phase V: Rs 3,520 per sq.ft (2024)
• Kaviya Garden 3rd Street: Rs 3,520 per sq.ft (2024)
• Kaviya Garden 4th Street: Rs 3,520 per sq.ft (2024)
• Kaviya Garden Extn III: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Kaviya Garden 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost for these fees to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaviya Garden 1st Street?

The Kaviya Garden 1st Street is covered by the Kunrathur Sub Registrar Office located at No.59, Road Street, Kundrathur, Chennai -600 069, within the Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial metric used in the registration of property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the fees are reflective of the property's value as determined by the local government.

Frequently asked questions

What is the current guideline value of Kaviya Garden 1st Street?

The current guideline value of Kaviya Garden 1st Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,144 per sq.ft in 2017 to Rs 3,520 per sq.ft in 2024. This reflects an increase of 10% from the previous year and a total increase of 10% from 2012.

What is the land classification for Kaviya Garden 1st Street?

Kaviya Garden 1st Street is classified as Residential Special Type - II. This classification affects the guideline value and potential uses of the land.

Where can I find the registration office for Kaviya Garden 1st Street?

The Kunrathur Sub Registrar Office, covering Kaviya Garden 1st Street, is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Kaviya Garden 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,46,400.