Guideline Value for Kuvari V.O.C. Street

Kuvari V.O.C. Street guideline value

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

How the guideline value of Kuvari V.O.C. Street has changed

The guideline value for Kuvari V.O.C. Street has undergone several revisions over the years. The earliest recorded revision was in 2003, with a value of Rs 303 per sq.ft. This increased to Rs 600 per sq.ft in 2007, marking a significant rise of 98%. In 2012, the value reached Rs 2,000 per sq.ft, reflecting a remarkable increase of 233%. However, in 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, followed by a rise to Rs 2,100 per sq.ft in 2024, which is a 5% increase.

Notably, there is no recorded figure for Kuvari V.O.C. Street in the 2002 revision. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 593%.

Guideline values in Zaminpallavaram

Zaminpallavaram 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 as of 2024. The median guideline value in this area is Rs 3,300 per sq.ft, placing Kuvari V.O.C. Street's 2024 figure below that median.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,100 per sq.ft, the guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, bringing the total 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuvari V.O.C. Street?

The Sub Registrar Office that covers Kuvari V.O.C. 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 in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property registration.

When a property is sold, the guideline value is compared with the sale price, and the duty is charged on the higher of the two amounts. This ensures that the government receives the appropriate tax revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Kuvari V.O.C. Street?

The current guideline value of Kuvari V.O.C. 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 this period.

What are the stamp duty and registration fees for properties in Kuvari V.O.C. Street?

For a property valued at the current guideline value of Rs 21,00,000, the stamp duty would be Rs 1,47,000, and the registration fee would be Rs 42,000, totaling Rs 1,89,000.

Which office handles property registrations in this area?

The Pallavaram Sub Registrar Office handles property registrations for Kuvari V.O.C. Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the significance of the guideline value?

The guideline value is used to determine the stamp duty and registration fees applicable when buying or selling property. It acts as a reference point for the value of the property during the registration process.