Guideline Value for K.R.B.Avenue

K.R.B.Avenue guideline value

The current guideline value of K.R.B.Avenue is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Mogalivakkam village, under the jurisdiction of the Kunrathur SRO. The land classification for this area is Residential Special Type - III.

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

Over the years, the guideline value of K.R.B.Avenue has seen significant changes. The 2007 revision set the value at Rs 600 per sq.ft, which increased dramatically to Rs 2,300 per sq.ft in 2012, marking a rise of 283%. However, from 2012 to 2017, the value decreased to Rs 1,541 per sq.ft, a decline of 33%. The 2017 revision then saw an increase to Rs 2,300 per sq.ft in 2023, reflecting a 49% rise. The most recent revision in 2024 set the value at Rs 2,530 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for K.R.B.Avenue for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 322%.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft, with a median value of Rs 2,970 per sq.ft. K.R.B.Avenue's 2024 guideline value is below this median.

• Krishnaveni Nagar: Rs 2,970 per sq.ft (2024)
• Krishnaveni Nagar Extension: Rs 2,970 per sq.ft (2024)
• Kumudham Nagar Annexe: Rs 3,520 per sq.ft (2024)
• Lakshmi Nagar: Rs 3,520 per sq.ft (2024)
• KarthikBalaji Nagar: Rs 2,530 per sq.ft (2024)
• Lalitha Avenue: Rs 2,970 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, totaling Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.R.B.Avenue?

The K.R.B.Avenue falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

When buying or selling property in Mogalivakkam, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established rates.

It is essential for buyers and sellers to be aware of the guideline value to avoid discrepancies during the transaction. The guideline value is updated periodically, reflecting changes in the local real estate market, which can affect the overall costs involved in property transactions.

Frequently asked questions

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

The current guideline value of K.R.B.Avenue is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, marking an overall increase of 322% over the years.

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

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100, and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

Which office handles property registration for K.R.B.Avenue?

The Kunrathur Sub Registrar Office handles property registration for K.R.B.Avenue, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for K.R.B.Avenue?

The land classification for K.R.B.Avenue is Residential Special Type - III, indicating its designated use within the village.