Guideline Value for K.V. Road

K.V. Road guideline value

The current guideline value of K.V. Road in Moonramkattalai village, under the Kunrathur SRO, is Rs 650 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

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

Over the years, the guideline value of K.V. Road has experienced several revisions. The earliest recorded figure is from 2007, which was Rs 250 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a 140% rise. However, it then decreased to Rs 402 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase again, reaching Rs 600 per sq.ft in 2023, and finally, it is set to rise to Rs 650 per sq.ft in the 2024 revision, representing an 8% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, and when looking at the overall change from 2007 to 2024, there has been a significant increase of 160%. The 2024 figure of Rs 650 per sq.ft aligns with the median guideline value of Rs 650 per sq.ft for the 43 streets in Moonramkattalai that have a 2024 figure.

Guideline values in Moonramkattalai

In Moonramkattalai, the guideline values for the 2024 revision range from Rs 650 to Rs 2,750 per sq.ft. K.V. Road's guideline value of Rs 650 per sq.ft is equal to the median value of the area. Below are other streets in Moonramkattalai with their respective guideline values:

• Kundrathur Road: Rs 1,350 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,000 per sq.ft (2024)
• Manickapuram: Rs 650 per sq.ft (2024)
• Mariamman Koil Street: Rs 650 per sq.ft (2024)
• Maruthi Nagar: Rs 650 per sq.ft (2024)
• Kandasamy Nagar: Rs 650 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 650 per sq.ft, the total guideline value would be Rs 6,50,000. The stamp duty at 7% would amount to Rs 45,500, and the registration fee at 2% would be Rs 13,000, bringing the total to Rs 58,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.V. Road?

K.V. Road falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

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

The guideline value is used to ensure that the property is registered at a value that reflects the market conditions. Buyers and sellers should be aware that the duty is calculated based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of K.V. Road is Rs 650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of K.V. Road has seen several revisions, increasing from Rs 250 per sq.ft in 2007 to Rs 650 per sq.ft in 2024, which is an overall increase of 160% since 2007.

What are the stamp duty and registration fees for property in K.V. Road?

For a property valued at Rs 6,50,000, the stamp duty would be Rs 45,500 and the registration fee would be Rs 13,000, totaling Rs 58,500.

Which Sub Registrar Office covers K.V. Road?

K.V. Road is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for K.V. Road?

K.V. Road is classified as Residential Class I Type - I, indicating its suitability for residential development.