Guideline Value for K.K.R. Avenue

K.K.R. Avenue guideline value

The current guideline value of K.K.R. Avenue is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Special Type - I.

How the guideline value of K.K.R. Avenue has changed

The guideline value for K.K.R. Avenue has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 414 per sq.ft. This increased significantly to Rs 449 per sq.ft in 2003, marking an 8% rise. The value then surged to Rs 2,138 per sq.ft in 2007, representing a remarkable 376% increase. Following this, the 2012 revision set the value at Rs 4,500 per sq.ft, which was a 110% increase from the previous figure. However, in 2017, the value dropped to Rs 3,015 per sq.ft, reflecting a decrease of 33%.

From 2017 to 2023, the guideline value increased significantly to Rs 4,500 per sq.ft, a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft, which is a 9% increase from the previous year. Overall, from 2002 to 2024, the guideline value has risen by 1,084%.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. K.K.R. Avenue's 2024 figure is above this median.

• Kollam Thottam: Rs 1,700 per sq.ft (2024)
• Kennady Square West Street: Rs 3,800 per sq.ft (2024)
• Kennady Square West Main Road: Rs 3,800 per sq.ft (2024)
• Kennady Square South Street: Rs 3,800 per sq.ft (2024)
• Kennady Square South Main Road: Rs 3,800 per sq.ft (2024)
• Kennady Square North Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in K.K.R. Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. 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.K.R. Avenue?

K.K.R. Avenue is covered by 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 Sembiam

The guideline value is a crucial factor in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to understand the financial implications of their transactions.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of K.K.R. Avenue?

The current guideline value of K.K.R. Avenue is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 414 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, showing a significant overall increase of 1,084% over this period.

What is the land classification of K.K.R. Avenue?

K.K.R. Avenue is classified as Residential Special Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for properties in K.K.R. Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 4,41,000, including stamp duty and registration fees. The duty is charged on the higher of the guideline value or the sale price.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the K.K.R. Avenue area.