Guideline Value for Kaviya Garden Phase II - 3rd Street

Kaviya Garden Phase II - 3rd Street guideline value

The current guideline value of Kaviya Garden Phase II - 3rd 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 Phase II - 3rd Street has changed

The guideline value for Kaviya Garden Phase II - 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,200 per sq.ft, which was then reduced to Rs 2,144 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49% to Rs 3,200 per sq.ft. The most recent 2024 revision has further raised the value to Rs 3,520 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Kaviya Garden Phase II - 3rd Street for the years 2002, 2003, and 2007. Overall, the guideline value has increased by 10% from 2012 to 2024, despite the fluctuations observed in the intervening years.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that have 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. The guideline value of Kaviya Garden Phase II - 3rd Street is below this median.

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

Stamp duty and registration fee for property in Kaviya Garden Phase II - 3rd 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 fees together 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 also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kaviya Garden Phase II - 3rd Street?

The Kaviya Garden Phase II - 3rd Street falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Porur, as it determines the minimum value at which a property can be registered. When you buy or sell property, the registration office uses this value to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. This ensures that both parties are informed about the financial implications of the sale or purchase.

Frequently asked questions

What is the current guideline value of Kaviya Garden Phase II - 3rd Street?

The current guideline value of Kaviya Garden Phase II - 3rd 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 3,200 per sq.ft in 2023 to Rs 3,520 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,144 per sq.ft in 2017 and Rs 3,200 per sq.ft in 2012.

What is the land classification of Kaviya Garden Phase II - 3rd Street?

Kaviya Garden Phase II - 3rd Street is classified as Residential Special Type - II, indicating its intended use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Kunrathur Sub Registrar Office covers Kaviya Garden Phase II - 3rd Street and is located at No.59, Road Street, Kundrathur, Chennai -600 069.