Guideline Value for Kaviya Garden Extn III

Kaviya Garden Extn III guideline value

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

How the guideline value of Kaviya Garden Extn III has changed

The guideline value for Kaviya Garden Extn III has seen several revisions over the years. Starting from Rs 450 per sq.ft in 2003, it increased significantly to Rs 750 per sq.ft in 2007, marking a 67% rise. The value then surged to Rs 3,200 per sq.ft in 2012, reflecting a remarkable 327% increase. However, it dropped to Rs 2,144 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 3,200 per sq.ft in 2023, and finally reached Rs 3,520 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for this street in 2002.

Overall, from 2003 to 2024, the guideline value has increased by 682%. The substantial changes in the guideline value reflect the evolving real estate landscape in the area, with the most significant jump occurring between 2007 and 2012.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. Kaviya Garden Extn III's 2024 guideline value is below this median.

• Kaviya Garden Phase 1 & 2: Rs 3,520 per sq.ft (2024)
• Kaviya Garden 4th Street: Rs 3,520 per sq.ft (2024)
• Kaviya Garden Phase II - 1st Street: Rs 3,520 per sq.ft (2024)
• Kaviya Garden Phase II - 2nd Street: Rs 3,520 per sq.ft (2024)
• Kaviya Garden 3rd Street: Rs 3,520 per sq.ft (2024)
• Kaviya Garden Phase II - 3rd Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Kaviya Garden Extn III

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be 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. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kaviya Garden Extn III?

The Kaviya Garden Extn III is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Porur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price as per government regulations.

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 Kaviya Garden Extn III?

The current guideline value of Kaviya Garden Extn III 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 450 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, reflecting a total increase of 682% over the years.

What is the land classification of Kaviya Garden Extn III?

Kaviya Garden Extn III is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

Where can I find the registration office for Kaviya Garden Extn III?

The registration office for Kaviya Garden Extn III is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Kaviya Garden Extn III?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.