Guideline Value for K V VINES NAGAR (SA)

K V Vines Nagar (Sa) guideline value

The current guideline value of K V Vines Nagar (Sa) is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai 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 undergone several revisions over the years. The earliest recorded revision was in 2012, with a guideline value of Rs 400 per sq.ft. This figure remained unchanged until the next revision in 2017, where it dropped to Rs 268 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 400 per sq.ft, and further rose to Rs 440 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 400 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft as of 2024. The median value for these streets is Rs 1,100 per sq.ft, placing K V Vines Nagar (Sa) below that median.

• Kuravanji Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Kundalakesi Street (N): Rs 1,321 per sq.ft (2024)
• Lakshmi Nagar (Pa): Rs 440 per sq.ft (2024)
• Kumaran Nagar: Rs 990 per sq.ft (2024)
• Kumaranar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Kumaragurubarar Street (Ward -4): Rs 1,321 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 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 K V Vines Nagar (Sa)?

K V Vines Nagar (Sa) falls under 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 Ninna Karai

The guideline value plays a crucial role during property transactions in Ninna Karai. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. This ensures that the government receives the appropriate revenue from property transactions.

When a buyer or seller registers a property, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is in line with the current market standards.

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 is the land classification of K V Vines Nagar (Sa)?

K V Vines Nagar (Sa) is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for properties in K V Vines Nagar (Sa)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 at 7%.