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 Panangottur 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. The earliest recorded figure is from 2012, where the value was Rs 400 per sq.ft. In 2017, this value decreased to Rs 268 per sq.ft, marking a decline of 33%. However, by 2023, the value increased significantly to Rs 400 per sq.ft, followed by a further increase to Rs 440 per sq.ft in 2024, representing a 10% rise.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the figures 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 Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 990 per sq.ft, placing K V Vines Nagar (Sa) 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 guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty, charged at 7%, would be Rs 30,800, while the registration fee at 2% would be Rs 8,800. Together, these fees would total 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 use the stamp duty and registration fee calculator for more detailed calculations.

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

The Chengleput Joint II Sub Registrar Office covers K V Vines Nagar (Sa). The office is 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 Panangottur

The guideline value is a crucial factor in property transactions in Panangottur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the transaction must be registered at or above this guideline value.

Additionally, the guideline value influences the stamp duty and registration fees applicable during the registration process. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, ensuring that the correct amounts are paid during property transactions.

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?

Over the years, the guideline value has seen fluctuations. It was Rs 400 per sq.ft in 2012, decreased to Rs 268 per sq.ft in 2017, then rose to Rs 400 per sq.ft in 2023, and finally reached Rs 440 per sq.ft in 2024.

What is the median guideline value in Panangottur?

The median guideline value in Panangottur is Rs 990 per sq.ft. K V Vines Nagar (Sa) is currently below this median value.

What are the stamp duty rates for property transactions in K V Vines Nagar (Sa)?

The stamp duty for property transactions in K V Vines Nagar (Sa) is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2%.

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

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