Guideline Value for K.G.V Nagar

K.G.V Nagar guideline value

The current guideline value of K.G.V Nagar, located in Maathoor village under the Sunguvarchattram SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of K.G.V Nagar has changed

The guideline value for K.G.V Nagar has seen several revisions over the years. Starting from the 2007 revision, the guideline value was Rs 25 per sq.ft. It increased significantly to Rs 250 per sq.ft in the 2012 revision, marking a remarkable increase of 900%. However, in the 2017 revision, the value was adjusted downwards to Rs 167 per sq.ft, a decrease of 33%. The 2023 revision maintained the value at Rs 250 per sq.ft, and this figure remains unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 50%. The overall change from the 2007 revision to the 2024 revision reflects a substantial increase of 900%, highlighting the fluctuations in the guideline value over the years. It is important to note that the register has no figures for K.G.V Nagar for the years 2002 and 2003.

Guideline values in Maathoor

In Maathoor, there are 47 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 2,687 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, making the guideline value of K.G.V Nagar below the median.

• Kattabomman street: Rs 500 per sq.ft (2024)
• Kambar Street: Rs 500 per sq.ft (2024)
• Kambar Nagar: Rs 400 per sq.ft (2024)
• Kalaivani Street: Rs 500 per sq.ft (2024)
• Kabilar Street: Rs 500 per sq.ft (2024)
• Manimegalai Street: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in K.G.V Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, while the registration fee at 2% would be Rs 5,000. Together, these fees total Rs 22,500. 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 information.

Which Sub Registrar Office covers K.G.V Nagar?

K.G.V Nagar falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Maathoor. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that are applicable.

During the registration process, the guideline value ensures that the property is not undervalued, thus safeguarding the interests of the government in terms of revenue collection. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of K.G.V Nagar?

The current guideline value of K.G.V Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions: Rs 25 per sq.ft in 2007, Rs 250 per sq.ft in 2012, Rs 167 per sq.ft in 2017, and Rs 250 per sq.ft in both 2023 and 2024.

What is the registration office for K.G.V Nagar?

K.G.V Nagar is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in K.G.V Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft property at the guideline value of Rs 250 per sq.ft would incur a stamp duty of Rs 17,500.

What are the guideline values of other streets in Maathoor?

Other streets in Maathoor have varying guideline values, with rates ranging from Rs 250 to Rs 2,687 per sq.ft. The median value is Rs 500 per sq.ft, which is higher than the guideline value of K.G.V Nagar.