Guideline Value for K.C. Garden 6th Street

K.C. Garden 6th Street guideline value

The current guideline value of K.C. Garden 6th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of K.C. Garden 6th Street has changed

The guideline value for K.C. Garden 6th Street has undergone several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it saw a decrease to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision.

Between the revisions, there have been notable changes. From 2007 to 2012, the guideline value increased by 150%, but then it decreased by 33% from 2012 to 2017. After that, there was a substantial increase of 49% from 2017 to 2023, followed by an 8% rise from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 170%.

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, with a median value of Rs 3,301 per sq.ft. The guideline value for K.C. Garden 6th Street is below this median.

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

Stamp duty and registration fee for property in K.C. Garden 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers K.C. Garden 6th Street?

K.C. Garden 6th Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that both parties are aware of the financial implications of the sale. It is essential for buyers and sellers to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of K.C. Garden 6th Street?

The current guideline value of K.C. Garden 6th 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, reflecting a total increase of 170% over this period.

What is the land classification for K.C. Garden 6th Street?

K.C. Garden 6th Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total cost would be Rs 2,43,000.

Which office handles registrations for K.C. Garden 6th Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for K.C. Garden 6th Street.