Guideline Value for K V VINES NAGAR (SA)

K V Vines Nagar (Sa) guideline value

The current guideline value for K V Vines Nagar (Sa) is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Kattankollatur village, under the Chengleput Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of K V Vines Nagar (Sa) has changed

The guideline value for K V Vines Nagar (Sa) has seen several revisions over the years. In 2012, the guideline value was Rs 400 per sq.ft, which decreased to Rs 268 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 400 per sq.ft. The most recent revision in 2024 has further increased the value to Rs 440 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kattankollatur

In Kattankollatur, there are 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, indicating that K V Vines Nagar (Sa) is below this median.

• Kuravanji Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Kundalakesi Street (N): Rs 1,320 per sq.ft (2024)
• Lakshmi Nagar (Pa): Rs 440 per sq.ft (2024)
• Kumaranar Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Kumaragurubarar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Kulakkarai Street (Ward -17): Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in K V Vines Nagar (Sa)

For a 1,000 sq.ft plot at the current rate of Rs 440 per sq.ft, the guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K V Vines Nagar (Sa)?

The Sub Registrar Office that covers K V Vines Nagar (Sa) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kattankollatur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

When registering a property, the buyer must be aware of the guideline value as it directly impacts the overall cost of the transaction. It is advisable to check the current guideline value before proceeding with any property dealings to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of K V Vines Nagar (Sa)?

The current guideline value of K V Vines Nagar (Sa) is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What are the other guideline values in Kattankollatur?

In Kattankollatur, other streets have guideline values ranging from Rs 440 to Rs 3,612 per sq.ft, with a median value of Rs 1,100 per sq.ft.

What is the stamp duty for property in K V Vines Nagar (Sa)?

The stamp duty for property in K V Vines Nagar (Sa) is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 4,40,000 would incur a stamp duty of Rs 30,800.

Where can I find the Sub Registrar Office for K V Vines Nagar (Sa)?

The Sub Registrar Office for K V Vines Nagar (Sa) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.