Guideline Value for Kaviya Garden

Kaviya Garden guideline value

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

How the guideline value of Kaviya Garden has changed

The guideline value of Kaviya Garden has undergone several revisions over the years. In 2002, the value was Rs 277 per sq.ft, which increased to Rs 400 per sq.ft in 2003, marking a growth of 44%. The value then saw a significant rise to Rs 750 per sq.ft in 2007, reflecting an increase of 88%. Following this, the value surged to Rs 3,200 per sq.ft in 2012, representing a remarkable increase of 327%. However, it decreased to Rs 2,144 per sq.ft in 2017, a drop of 33%. The value then rose again to Rs 3,200 per sq.ft in 2023, followed by the current figure of Rs 3,520 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,171%. There are no figures in the register for the years not mentioned in this summary.

Guideline values in Porur

Within Porur village, 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. The guideline value of Kaviya Garden is below this median.

• Kaviya Gardan Phase V: Rs 3,520 per sq.ft (2024)
• Kaviya Garden 1st Street: Rs 3,520 per sq.ft (2024)
• Kaviya Garden 2nd Street: 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

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, while the registration fee at 2% would be Rs 70,400. Together, the total cost for stamp duty and registration would be Rs 3,16,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kaviya Garden?

The Kaviya Garden area 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 is a crucial factor in property transactions within Porur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees.

During registration, the authorities use the guideline value to ensure that the transaction reflects a fair value for the property. This helps maintain transparency and compliance with local regulations in real estate transactions.

Frequently asked questions

What is the current guideline value of Kaviya Garden?

The current guideline value of Kaviya Garden 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 seen significant changes, from Rs 277 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 1,171% over this period.

What is the land classification for Kaviya Garden?

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

What are the stamp duty and registration fees for property in Kaviya Garden?

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.

Which office handles registrations for Kaviya Garden?

The Kunrathur Sub Registrar Office handles registrations for Kaviya Garden, located at No.59, Road Street, Kundrathur, Chennai - 600 069.