Guideline Value for K.V.N. Nagar

K.V.N. Nagar guideline value

The current guideline value of K.V.N. Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class III Type - II.

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

The guideline value for K.V.N. Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a rise of 500%. However, by 2017, the value dropped to Rs 804 per sq.ft, a decrease of 33%. The value then rose again to Rs 1,200 per sq.ft in 2023, before reaching the current figure of Rs 1,300 per sq.ft in 2024, reflecting an 8% increase.

Overall, from 2007 to 2024, the guideline value has increased by 550%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for the area is Rs 2,200 per sq.ft, which means K.V.N. Nagar's 2024 figure is below this median.

• Lake-Bound Street: Rs 950 per sq.ft (2024)
• Lakshmi Avenue: Rs 2,200 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,900 per sq.ft (2024)
• Kundalakesi Nagar Ganesh Nagar: Rs 2,900 per sq.ft (2024)
• Lakshmi Nagar Ext: Rs 3,750 per sq.ft (2024)
• Lalbagadur Sastri Street: Rs 950 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers K.V.N. Nagar?

The Sub Registrar Office that covers K.V.N. Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is an important factor when registering property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. It is essential to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any potential legal issues.

Frequently asked questions

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

The current guideline value of K.V.N. Nagar 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 200 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, representing an overall increase of 550%.

What are the stamp duty and registration fees for a property in K.V.N. Nagar?

For a property valued at Rs 13,00,000, the stamp duty is Rs 91,000 and the registration fee is Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office is responsible for K.V.N. Nagar?

The Selaiyur Sub Registrar Office is responsible for K.V.N. Nagar, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification of K.V.N. Nagar?

K.V.N. Nagar is classified as Residential Class III Type - II, indicating its designation for residential purposes.