Guideline Value for K.C. Garden 5th Street

K.C. Garden 5th Street guideline value

The current guideline value of K.C. Garden 5th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the jurisdiction of the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of K.C. Garden 5th Street has changed

The guideline value for K.C. Garden 5th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,000 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, but saw a decrease to Rs 1,675 per sq.ft in 2017. Following this, the value rose to Rs 2,500 per sq.ft in 2023, and is now Rs 2,700 per sq.ft in 2024, marking an 8% increase from the previous year.

Notably, there are no recorded figures for K.C. Garden 5th Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 170%, reflecting the changes in value across the revisions.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 3,301 per sq.ft, which indicates that K.C. Garden 5th Street's current value is below the median.

• K.C. Garden 5th Cross Street: Rs 2,700 per sq.ft (2024)
• K.C. Garden 6th Cross Street: Rs 2,700 per sq.ft (2024)
• K.C. Garden 4th Street: Rs 2,700 per sq.ft (2024)
• K.C. Garden 6th Street: Rs 2,700 per sq.ft (2024)
• K.C. Garden 4th Cross Street: Rs 2,700 per sq.ft (2024)
• K.C. Garden East Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in K.C. Garden 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.C. Garden 5th Street?

The K.C. Garden 5th Street falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For further assistance, you can find your SRO.

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

The guideline value is a crucial factor during property registration in Peravallur. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware that the guideline value can influence the overall transaction costs.

When a property is sold, the guideline value helps in establishing a fair price for the transaction, ensuring that the government receives the appropriate taxes. It is essential for both parties to consider the guideline value during negotiations and final agreements.

Frequently asked questions

What is the current guideline value of K.C. Garden 5th Street?

The current guideline value of K.C. Garden 5th Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, representing a total increase of 170% over the years.

What are the other streets with the same guideline value in Peravallur?

Other streets in Peravallur with the same guideline value of Rs 2,700 per sq.ft include K.C. Garden 5th Cross Street, K.C. Garden 6th Cross Street, K.C. Garden 4th Street, K.C. Garden 6th Street, K.C. Garden 4th Cross Street, and K.C. Garden East Street.

What are the stamp duty and registration fees for properties in K.C. Garden 5th Street?

The stamp duty for a property valued at Rs 27,00,000 would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000 for these fees.

Which office handles the registration for K.C. Garden 5th Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, is responsible for handling registrations for K.C. Garden 5th Street.