Guideline Value for Kuvari Road Cross Street

Kuvari Road Cross Street guideline value

The current guideline value of Kuvari Road Cross Street is Rs 2,100 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kuvari Road Cross Street has changed

The guideline value for Kuvari Road Cross Street has seen several revisions over the years. In 2003, the value was Rs 303 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007, marking a change of +98%. The value then surged to Rs 2,000 per sq.ft in 2012, reflecting a remarkable increase of +233%. However, by 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of -33%. The most recent revision in 2024 set the guideline value at Rs 2,100 per sq.ft, representing an increase of +57% from the 2017 figure. The register has no figures for the years 2023 and 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft as of 2024. The median value for these streets is Rs 3,300 per sq.ft, and Kuvari Road Cross Street's 2024 figure is below that median.

• Kuvari Road: Rs 2,100 per sq.ft (2024)
• Kuvari V.O.C. Street: Rs 2,100 per sq.ft (2024)
• Kuvari Mettu Street: Rs 3,300 per sq.ft (2024)
• Kuvari Kattabomman Street: Rs 2,160 per sq.ft (2024)
• Kurunji Nagar: Rs 3,520 per sq.ft (2024)
• Lake View Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kuvari Road Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value would be Rs 21,00,000. The stamp duty at 7% would amount to Rs 1,47,000, while the registration fee at 2% would be Rs 42,000, bringing the total fees to Rs 1,89,000. 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 Kuvari Road Cross Street?

The Sub Registrar Office that covers Kuvari Road Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Kuvari Road Cross Street?

The current guideline value of Kuvari Road Cross Street is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 303 per sq.ft in 2003 to Rs 2,100 per sq.ft in 2024, reflecting an overall increase of +593% over the years.

What are the other streets in Zaminpallavaram with their guideline values?

Other streets in Zaminpallavaram include Kuvari Road and Kuvari V.O.C. Street, both at Rs 2,100 per sq.ft, Kuvari Kattabomman Street at Rs 2,160 per sq.ft, Kuvari Mettu Street at Rs 3,300 per sq.ft, Kurunji Nagar at Rs 3,520 per sq.ft, and Lake View Street at Rs 2,750 per sq.ft.

What is the registration process for properties in Kuvari Road Cross Street?

The registration process involves paying the stamp duty and registration fees based on the guideline value or sale price, whichever is higher. It is essential to register the property at the Pallavaram Sub Registrar Office to ensure legal ownership.

Is there a calculator for stamp duty and registration fees?

Yes, there is a stamp duty and registration fee calculator available for calculating the fees based on the guideline value and sale price.