Guideline Value for Kuvari Road

Kuvari Road guideline value

The current guideline value of Kuvari Road is Rs 2,100 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Kuvari Road has changed

Over the years, the guideline value for Kuvari Road has seen several revisions. Starting from Rs 303 per sq.ft in 2003, it increased to Rs 600 per sq.ft in 2007, marking a significant rise of 98%. The next revision in 2012 set the value at Rs 2,000 per sq.ft, reflecting an increase of 233% from the previous figure. The most recent revision in 2024 brought the guideline value to Rs 2,100 per sq.ft, which is a 5% increase from 2012.

It is important to note that there are no figures available for this street in the 2023, 2017, and 2002 revisions. Overall, from 2003 to 2024, the guideline value has increased by 593%.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, indicating that the guideline value of Kuvari Road is below this median.

• Kuvari Mettu Street: Rs 3,300 per sq.ft (2024)
• Kuvari Road Cross Street: Rs 2,100 per sq.ft (2024)
• Kuvari Kattabomman Street: Rs 2,160 per sq.ft (2024)
• Kuvari V.O.C. Street: Rs 2,100 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

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 together to Rs 1,89,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuvari Road?

The Sub Registrar Office that covers Kuvari Road 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 in the registration process when buying or selling property in Zaminpallavaram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value is a reference point, and the actual sale price may influence the final fees.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which is necessary for legal and taxation purposes. It is essential for both buyers and sellers to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kuvari Road?

The current guideline value of Kuvari Road 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 increased from Rs 303 per sq.ft in 2003 to Rs 2,100 per sq.ft in 2024, reflecting an overall increase of 593% over this period.

What is the land classification of Kuvari Road?

Kuvari Road is classified as Residential Class IV Type - I under the guideline value regulations.

Where can I find the Sub Registrar Office for Kuvari Road?

The Sub Registrar Office for Kuvari Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties on Kuvari Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 21,00,000 would incur a stamp duty of Rs 1,47,000 at a rate of 7%.