Guideline Value for K.V.M.Colony / Street

K.V.M.Colony / Street guideline value

The current guideline value of K.V.M.Colony / Street in Chindadripet village, under the Periamet SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of K.V.M.Colony / Street has changed

Since the 2012 revision, the guideline value for K.V.M.Colony / Street has seen several changes. In 2012, the guideline value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 3,300 per sq.ft.

The changes between revisions are notable: from 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that have a guideline value for 2024, ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the guideline value for K.V.M.Colony / Street.

• Lafond Lane: Rs 3,300 per sq.ft (2024)
• Lafond street: Rs 3,300 per sq.ft (2024)
• Kutty Naicken street: Rs 3,300 per sq.ft (2024)
• Lazzaras church street: Rs 3,300 per sq.ft (2024)
• Krishnappa lane: Rs 3,300 per sq.ft (2024)
• Krishnappa Chetty Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in K.V.M.Colony / Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to 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.

You can also use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers K.V.M.Colony / Street?

The Sub Registrar Office that covers K.V.M.Colony / Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chindadripet. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the fees are calculated based on the official value set by the government.

Frequently asked questions

What is the current guideline value of K.V.M.Colony / Street?

The current guideline value of K.V.M.Colony / 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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for K.V.M.Colony / Street?

K.V.M.Colony / Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in K.V.M.Colony / 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 covers this area?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, covers K.V.M.Colony / Street.