Guideline Value for K.P. Garden (Ward-17)

K.P. Garden (Ward-17) guideline value

The current guideline value of K.P. Garden (Ward-17) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of K.P. Garden (Ward-17) has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. The current revision in 2024 shows an increase to Rs 1,300 per sq.ft, marking an 8% increase from the previous figure. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

Thus, the only revisions noted are from 2012 to 2024. The guideline value has seen a significant update in the recent revision, reflecting the current valuation standards set by the authorities.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. K.P. Garden's 2024 guideline value is below this median.

• Krishna Nagar 2nd st (Ward No.23): Rs 2,200 per sq.ft (2024)
• Kolkatta Shop Road (Ward No.13): Rs 1,600 per sq.ft (2024)
• Krishna Nagar Extension: Rs 2,200 per sq.ft (2024)
• Krishna Nagar, Ponniammanmedu (Ward-23): Rs 2,200 per sq.ft (2024)
• Kolathur Haridass Naidu Street (Swamy Ramalingam Colony): Rs 1,600 per sq.ft (2024)
• Krishna Nagar Roads (Ward No.3): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in K.P. Garden (Ward-17)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 details.

Which Sub Registrar Office covers K.P. Garden (Ward-17)?

The Sub Registrar Office that covers K.P. Garden (Ward-17) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor during property transactions in Madhavaram. It serves as a benchmark for determining the minimum price at which properties can be registered, ensuring transparency in the buying and selling process.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal documentation. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of K.P. Garden (Ward-17)?

The current guideline value of K.P. Garden (Ward-17) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, which is an 8% increase. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification of K.P. Garden (Ward-17)?

K.P. Garden (Ward-17) is classified as Residential Class III Type - I. This classification is important for determining the usage and development potential of the land.

What are the stamp duty and registration fees for properties in K.P. Garden (Ward-17)?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,17,000.

Where is the Sub Registrar Office for K.P. Garden (Ward-17)?

The Madhavaram Sub Registrar Office, which covers K.P. Garden (Ward-17), is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office is responsible for property registrations in the area.