Guideline Value for K.M.C. Garden

K.M.C. Garden guideline value

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

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

Looking at the revisions, the guideline value for K.M.C. Garden was Rs 2,500 per sq.ft in 2012 and remained unchanged in 2023. The most recent revision in 2024 increased the guideline value to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

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

Guideline values in Kodungaiyur

Kodungaiyur has a total of 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 value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of K.M.C. Garden.

• K.M. Nagar: Rs 2,700 per sq.ft (2024)
• K.M.A. Garden: 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.C. Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be 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 also use the stamp duty and registration fee calculator for more accurate calculations.

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

The K.M.C. Garden area falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is an essential factor in property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not sold at a value lower than the prescribed guideline.

When buying or selling a property, the guideline value helps in calculating the stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, which ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of K.M.C. 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 for K.M.C. Garden has increased from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 8%.

What is the stamp duty rate in K.M.C. Garden?

The stamp duty rate for property transactions in K.M.C. Garden is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for K.M.C. Garden?

The Sub Registrar Office covering K.M.C. Garden is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the other streets with the same guideline value in Kodungaiyur?

Other streets in Kodungaiyur with the same guideline value of Rs 2,700 per sq.ft include K.M. Nagar, K.M.A. Garden, Koil Street (R.V. Nagar), and K.K. Nagar.