Guideline Value for K.V.K.Samy Street

K.V.K.Samy Street guideline value

The current guideline value of K.V.K.Samy Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of K.V.K.Samy Street has changed

The guideline value for K.V.K.Samy Street has seen several revisions over the years. Starting from Rs 378 per sq.ft in 2002, it increased to Rs 413 per sq.ft in 2003, marking a 9% rise. The value then rose significantly to Rs 550 per sq.ft in 2007, reflecting a 33% increase. Following this, the value jumped to Rs 3,000 per sq.ft in 2012, which was a substantial 445% increase. However, it then decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%.

In the subsequent revisions, the guideline value rose again to Rs 3,000 per sq.ft in 2023, which was a 49% increase from the previous figure. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, a 10% increase from 2023. There are no figures available for the years not listed in the register for this street.

Guideline values in Saligramam

In Saligramam, there are a total of 333 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing K.V.K.Samy Street's 2024 figure below that median.

• Kushaldas Street: Rs 4,950 per sq.ft (2024)
• Kumaran Colony Main Road: Rs 6,600 per sq.ft (2024)
• Kumaran Colony 9th Street: Rs 6,050 per sq.ft (2024)
• Kumaran Colony 8th Street: Rs 6,050 per sq.ft (2024)
• Kumaran Colony 7th Street: Rs 8,050 per sq.ft (2024)
• Kumaran Colony 6th Street: Rs 6,050 per sq.ft (2024)

Stamp duty and registration fee for property in K.V.K.Samy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the 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.K.Samy Street?

The Sub Registrar Office that covers K.V.K.Samy Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the registration fees and stamp duty are calculated based on this guideline value or the sale price, whichever is higher.

When purchasing property, it is essential to consider the guideline value, as it influences the overall cost of the transaction. Understanding these values can help buyers and sellers navigate the registration process more effectively.

Frequently asked questions

What is the current guideline value of K.V.K.Samy Street?

The current guideline value of K.V.K.Samy Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 378 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 773% over the years.

What are the stamp duty and registration fees for properties on K.V.K.Samy Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office handles registrations for K.V.K.Samy Street?

The Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, handles registrations for K.V.K.Samy Street.

What is the median guideline value for streets in Saligramam?

The median guideline value for streets in Saligramam is Rs 4,400 per sq.ft, with K.V.K.Samy Street's current value being below this median.