Guideline Value for K.V.K. Swamy street

K.V.K. Swamy street guideline value

The current guideline value of K.V.K. Swamy street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of K.V.K. Swamy street has changed

The guideline value for K.V.K. Swamy street has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. The value saw a significant increase to Rs 1,200 per sq.ft in 2023, and now stands at Rs 1,300 per sq.ft as of the 2024 revision. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, there was a 49% increase, while the jump from 2023 to 2024 reflects an 8% rise. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing K.V.K. Swamy street's 2024 figure below that median.

• Labour Lane: Rs 1,300 per sq.ft (2024)
• Kuresan Street: Rs 2,700 per sq.ft (2024)
• Kuppu Lane: Rs 1,300 per sq.ft (2024)
• Kuppu Chetty Street (Kuppa Chetty Street): Rs 1,300 per sq.ft (2024)
• Kumaresan Street: Rs 1,300 per sq.ft (2024)
• Kumarasamy Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in K.V.K. Swamy street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.V.K. Swamy street?

K.V.K. Swamy street is covered by the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling a property, the guideline value is used to calculate stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of K.V.K. Swamy street?

The current guideline value of K.V.K. Swamy street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over the years.

What are the other streets with similar guideline values in Tondaiarpet?

Other streets in Tondaiarpet with a guideline value of Rs 1,300 per sq.ft include Labour Lane, Kuppu Lane, Kuppu Chetty Street, Kumaresan Street, and Kumarasamy Lane.

What is the stamp duty rate for properties in K.V.K. Swamy street?

The stamp duty rate for properties in K.V.K. Swamy street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for K.V.K. Swamy street?

The Sub Registrar Office covering K.V.K. Swamy street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.