Guideline Value for K.V. Nagar

K.V. Nagar guideline value

The current guideline value of K.V. Nagar in Kodithandalam village, under the Madurandakam SRO, is Rs 150 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I classification.

How the guideline value of K.V. Nagar has changed

Over the years, the guideline value for K.V. Nagar has seen several revisions. The earliest recorded value in 2007 was Rs 30 per sq.ft, which increased significantly to Rs 150 per sq.ft in 2012. However, in 2017, the value was revised down to Rs 100 per sq.ft, before rising again to Rs 150 per sq.ft in 2023 and remaining the same in 2024.

From 2017 to 2023, the value increased by 50%. The overall change from 2007 to 2024 shows a substantial increase of 400%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodithandalam

In Kodithandalam village, four streets are listed under the Madurandakam SRO with a 2024 guideline value ranging from Rs 150 to Rs 426 per sq.ft. K.V. Nagar's 2024 figure aligns with the median value of Rs 150 per sq.ft.

• J.B.J. Jacob Nagar: Rs 150 per sq.ft (2024)
• Sri Vinayaga Nagar: Rs 150 per sq.ft (2024)
• Vsr Nagar: Rs 426 per sq.ft (2024)

Stamp duty and registration fee for property in K.V. Nagar

For a 1,000 sq.ft plot at the current rate of Rs 150 per sq.ft, the guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, while the registration fee at 2% would be Rs 3,000, totaling Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers K.V. Nagar?

The K.V. Nagar area is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodithandalam. It is used to determine the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of K.V. Nagar?

The current guideline value of K.V. Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value of K.V. Nagar changed over the years?

The guideline value has seen various changes, starting from Rs 30 per sq.ft in 2007, increasing to Rs 150 per sq.ft in 2012, then decreasing to Rs 100 per sq.ft in 2017, before rising back to Rs 150 per sq.ft in both 2023 and 2024.

What are the other streets in Kodithandalam and their guideline values?

Other streets in Kodithandalam include J.B.J. Jacob Nagar and Sri Vinayaga Nagar, both at Rs 150 per sq.ft for 2024, and Vsr Nagar, which has a guideline value of Rs 426 per sq.ft for the same year.

How is stamp duty calculated in K.V. Nagar?

Stamp duty in K.V. Nagar is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 1,50,000, the stamp duty would be Rs 10,500 at 7%.

Where is the Sub Registrar Office for K.V. Nagar located?

The Madurandakam Sub Registrar Office, which covers K.V. Nagar, is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.