Guideline Value for Kaviya Garden Phase 1 & 2

Kaviya Garden Phase 1 & 2 guideline value

The current guideline value of Kaviya Garden Phase 1 & 2 is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Porur village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Kaviya Garden Phase 1 & 2 has changed

The guideline value for Kaviya Garden Phase 1 & 2 has seen several revisions over the years. The 2007 revision set the value at Rs 750 per sq.ft, which increased significantly to Rs 3,200 per sq.ft in 2012, marking a 327% rise. However, from 2012 to 2017, the value decreased to Rs 2,144 per sq.ft, a decline of 33%. The 2017 revision then brought it back up to Rs 3,200 per sq.ft in 2023, reflecting a 49% increase.

As of the 2024 revision, the guideline value stands at Rs 3,520 per sq.ft, an increase of 10% from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 369%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a guideline value for 2024, 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 Phase 1 & 2's 2024 figure below this median.

• Kaviya Garden Extn III: 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 4th Street: Rs 3,520 per sq.ft (2024)
• Kaviya Garden Phase II - 3rd Street: Rs 3,520 per sq.ft (2024)
• Kaviya Garden Phase IV & V: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Kaviya Garden Phase 1 & 2

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 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 our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Kaviya Garden Phase 1 & 2?

The Kaviya Garden Phase 1 & 2 area falls under 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 is a crucial factor when registering property transactions in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When you buy or sell property, the guideline value helps in calculating the applicable taxes and fees. It is essential to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Kaviya Garden Phase 1 & 2?

The current guideline value for Kaviya Garden Phase 1 & 2 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 significantly from Rs 750 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, marking an overall increase of 369%.

What is the classification of land in Kaviya Garden Phase 1 & 2?

Kaviya Garden Phase 1 & 2 is classified as Residential Special Type - II, indicating its suitability for residential development.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Kaviya Garden Phase 1 & 2?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 2,46,400.