Guideline Value for Kaviyarasu Street

Kaviyarasu Street guideline value

The current guideline value of Kaviyarasu Street in Periyakuppam village, under the Tiruvallur Joint 1 SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This classification falls under Residential Class I Type - III.

How the guideline value of Kaviyarasu Street has changed

The guideline value for Kaviyarasu Street has undergone several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, it decreased to Rs 670 per sq.ft in 2017, before rising to Rs 1,000 per sq.ft again in 2023. The most recent revision in 2024 has set the value at Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. The substantial rise from 2007 to 2012 of 400% was followed by a decrease of 33% from 2012 to 2017. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Periyakuppam

In Periyakuppam, there are 105 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,300 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, which is equal to the guideline value of Kaviyarasu Street.

• Kavi Kalamegam Street: Rs 1,100 per sq.ft (2024)
• Kattapomman Street: Rs 550 per sq.ft (2024)
• Kattapomman Cross Street: Rs 550 per sq.ft (2024)
• K.K.R. Millinium City: Rs 879 per sq.ft (2024)
• Kumaran Street: Rs 1,100 per sq.ft (2024)
• Kamarajar Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kaviyarasu Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Please 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 more details.

Which Sub Registrar Office covers Kaviyarasu Street?

The Sub Registrar Office that covers Kaviyarasu Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Periyakuppam. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. This ensures that the government receives the appropriate revenue from property transactions.

When you register a property, the guideline value is used to calculate the fees based on the higher amount between the guideline value and the sale price. This means that understanding the guideline value is essential for both buyers and sellers to ensure compliance with the registration process.

Frequently asked questions

What is the current guideline value of Kaviyarasu Street?

The current guideline value of Kaviyarasu Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting a total increase of 450% over the years.

What is the land classification for Kaviyarasu Street?

Kaviyarasu Street is classified under Residential Class I Type - III, indicating its designation for residential purposes.

Which office handles the registration for properties in Kaviyarasu Street?

The Tiruvallur Joint 1 Sub Registrar Office handles the registration for properties in Kaviyarasu Street, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001.

What are the stamp duty and registration fees for a property on Kaviyarasu Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.