Guideline Value for Sekkupet Kavarai Street

Sekkupet Kavarai Street guideline value

The current guideline value of Sekkupet Kavarai Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in the 2nd Division village under the Kanchipuram Joint IV SRO and is classified as Commercial Class I Type - II.

How the guideline value of Sekkupet Kavarai Street has changed

The guideline value for Sekkupet Kavarai Street has undergone several revisions over the years. In 2012, the guideline value was Rs 5,000 per sq.ft. This figure decreased to Rs 3,350 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 5,000 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 5,500 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in 2nd Division

In the 2nd Division, there are 101 streets under the Kanchipuram Joint IV SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Sekkupet Kavarai Street's 2024 figure above this median.

• Sekkupet Kanthasamy Sa Street: Rs 3,300 per sq.ft (2024)
• Sekkupet Nadu Street: Rs 5,500 per sq.ft (2024)
• Sekkupet Saliyar Street: Rs 3,300 per sq.ft (2024)
• Sekkupet Therku Street: Rs 3,300 per sq.ft (2024)
• Sekkupet Vadaku Street: Rs 3,300 per sq.ft (2024)
• Santhaaleeswarar Kovil Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sekkupet Kavarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sekkupet Kavarai Street?

The Sekkupet Kavarai Street falls under the jurisdiction of the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value plays a crucial role during property transactions in the 2nd Division. It is used to determine the stamp duty and registration fees that must be paid when registering a property. Buyers and sellers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in calculating the overall costs associated with property transactions. It is advisable to consult the guideline value register to stay updated on current rates.

Frequently asked questions

What is the current guideline value of Sekkupet Kavarai Street?

The current guideline value of Sekkupet Kavarai Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then increased to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the classification of Sekkupet Kavarai Street?

Sekkupet Kavarai Street is classified as Commercial Class I Type - II under the Kanchipuram Joint IV SRO.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where can I find the Sub Registrar Office for Sekkupet Kavarai Street?

The Kanchipuram Joint IV Sub Registrar Office is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.