Guideline Value for K.V.R Nagar

K.V.R Nagar guideline value

The current guideline value of K.V.R Nagar, located in Varadharajapuram village under the Poonamallee SRO, is Rs 2,530 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Commercial Special Type - I.

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

The guideline value of K.V.R Nagar has undergone several revisions over the years. The earliest available figure is from 2012, where the guideline value was Rs 2,300 per sq.ft. This value remained unchanged until the next revision in 2017, where it decreased by 33% to Rs 1,541 per sq.ft. Following this, the value saw a significant increase of 49% in 2023, bringing it to Rs 2,300 per sq.ft. The most recent revision in 2024 has further increased the guideline value by 10% to Rs 2,530 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for K.V.R Nagar. Overall, from 2012 to 2024, the guideline value has increased by 10%, reflecting the changes over the years.

Guideline values in Varadharajapuram

In Varadharajapuram, there are six streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,825 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, which is equal to the current guideline value of K.V.R Nagar. This positions K.V.R Nagar at the median value among the streets in the area.

• National Highway Road: Rs 2,530 per sq.ft (2024)
• Ocean Sundar Gateway: Rs 3,825 per sq.ft (2024)
• Bala Murugan Nagar Part-III: Rs 3,825 per sq.ft (2024)
• Bala Murugan Nagar Part II Extension: Rs 1,800 per sq.ft (2024)
• Bala Murugan Nagar Part II: Rs 1,100 per sq.ft (2024)

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

For a property in K.V.R Nagar, the guideline value is Rs 2,530 per sq.ft. For instance, if you consider a 1,000 sq.ft plot, the guideline value would amount to Rs 25,30,000. The stamp duty is charged at 7%, which would be Rs 1,77,100, and the registration fee is 2%, amounting to Rs 50,600. Together, the total cost for stamp duty and registration would be Rs 2,27,700. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

K.V.R Nagar falls under the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Varadharajapuram. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duty are calculated based on the higher of the guideline value or the sale price.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of K.V.R Nagar is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,530 per sq.ft in 2024.

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

For a property valued at Rs 25,30,000 in K.V.R Nagar, the stamp duty would be Rs 1,77,100, and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

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

K.V.R Nagar is covered by the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056.

What is the land classification for K.V.R Nagar?

The land classification for K.V.R Nagar is Commercial Special Type - I, which is relevant for determining its guideline value and usage.