Guideline Value for K.M.A. Garden

K.M.A. Garden guideline value

The current guideline value of K.M.A. Garden is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of K.M.A. Garden has changed

The guideline value for K.M.A. Garden has seen a revision from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an increase of 8%. Prior to this, the value remained unchanged at Rs 2,500 per sq.ft from the 2012 revision through to 2023.

There are no figures available for the years 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the current 2024 figure, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

Kodungaiyur has 1,318 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for the village is Rs 2,700 per sq.ft, which is equal to the current value of K.M.A. Garden.

• K.M.C. Garden: Rs 2,700 per sq.ft (2024)
• K.M. Nagar: Rs 2,700 per sq.ft (2024)
• Kodungaiyur Industrial Estate: Rs 2,800 per sq.ft (2024)
• Koil Street (R.V. Nagar): Rs 2,700 per sq.ft (2024)
• K.K. Nagar: Rs 2,700 per sq.ft (2024)
• K.K.D. Nagar 8th Block 6th Lane 10th Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in K.M.A. Garden

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, making the total cost for these fees Rs 2,43,000. Please note that the stamp duty is charged on the higher of the guideline value or the sale price.

For a detailed calculation, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.M.A. Garden?

The K.M.A. Garden area falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the stamp duty is calculated based on the higher amount between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of K.M.A. Garden?

The current guideline value of K.M.A. Garden 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 increased from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase. From 2012 to 2024, the overall increase is also 8%.

What is the land classification of K.M.A. Garden?

K.M.A. Garden is classified as Residential Class I Type - I, which indicates the type of residential development permitted in the area.

What is the registration office for K.M.A. Garden?

The registration office for K.M.A. Garden is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in K.M.A. Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.