Guideline Value for Dr.K.V.K Nagar

Dr.K.V.K Nagar guideline value

The current guideline value for Dr.K.V.K Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village under the Selaiyur SRO, classified as Residential Class I Type - III.

How the guideline value of Dr.K.V.K Nagar has changed

Over the years, the guideline value for Dr.K.V.K Nagar has seen significant changes. The 2007 revision set the value at Rs 400 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, this value dropped by 33% to Rs 1,675 per sq.ft in 2017. The next revision in 2023 raised the value to Rs 2,500 per sq.ft, and the most recent revision in 2024 has further increased it to Rs 2,750 per sq.ft, marking a 10% rise from the previous year.

From 2007 to 2024, the overall increase in guideline value is 588%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value is Rs 2,200 per sq.ft, making Dr.K.V.K Nagar's 2024 figure of Rs 2,750 per sq.ft above this median.

• Dr. Saradha Subramaniam Nagar: Rs 1,800 per sq.ft (2024)
• Dr. Duraisamy Nagar: Rs 2,400 per sq.ft (2024)
• Dr. Devaraj Nagar: Rs 2,750 per sq.ft (2024)
• Eista Sithi Vinayakar Koil Street: Rs 850 per sq.ft (2024)
• Elangovan Street: Rs 3,300 per sq.ft (2024)
• Dhanalakshmi Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Dr.K.V.K Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total fees together Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr.K.V.K Nagar?

The Sub Registrar Office that covers Dr.K.V.K Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the applicable fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Dr.K.V.K Nagar?

The current guideline value of Dr.K.V.K Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 400 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 588% over these years.

What are the stamp duty and registration fees for properties in Dr.K.V.K Nagar?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Dr.K.V.K Nagar?

The Selaiyur Sub Registrar Office covers Dr.K.V.K Nagar, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

How is the guideline value used in property transactions?

The guideline value is used as a benchmark for property registration, determining the minimum value for registration and the corresponding stamp duty and registration fees that must be paid during the transaction.