Guideline Value for K.C. Garden West Street

K.C. Garden West Street guideline value

The current guideline value of K.C. Garden West 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 it falls under the Residential Class I Type - I land classification.

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

The guideline value for K.C. Garden West Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,000 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, but then 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 currently stands at Rs 2,700 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

When examining the changes, the revision from 2023 to 2024 reflects an increase of 8%. The jump from 2017 to 2023 shows a significant increase of 49%. However, there was a decrease of 33% from 2012 to 2017, and a substantial increase of 150% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 170%.

Guideline values in Peravallur

In Peravallur village, 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 value for these streets is Rs 3,301 per sq.ft, indicating that K.C. Garden West Street's 2024 figure is below this median.

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

Stamp duty and registration fee for property in K.C. Garden West 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 amount 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, resulting in a total of Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.C. Garden West Street?

K.C. Garden West Street falls under 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 plays a crucial role in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to assess the fees, ensuring that both the buyer and seller are aware of the costs involved. This transparency helps in facilitating smoother transactions within the real estate market.

Frequently asked questions

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

The current guideline value of K.C. Garden West 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 an overall increase of 170% over the years.

What is the median guideline value in Peravallur?

The median guideline value for the 423 streets in Peravallur is Rs 3,301 per sq.ft, with K.C. Garden West Street's 2024 value being below this median.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.

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

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles the registration for K.C. Garden West Street.