Guideline Value for K.V.R.Nagar

K.V.R.Nagar guideline value

The current guideline value of K.V.R.Nagar, located in Kathirvedu village under the Ambattur SRO, is Rs 2,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - III.

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

The guideline value for K.V.R.Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 82 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a 22% rise. The value then rose to Rs 300 per sq.ft in 2007, reflecting a substantial increase of 200%. Following that, the value jumped dramatically to Rs 1,900 per sq.ft in 2012, which was a 533% increase. However, it decreased to Rs 1,273 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 1,900 per sq.ft in 2023, before reaching the current value of Rs 2,000 per sq.ft in 2024, which is a 5% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2,339%. There are no figures available for revisions in years other than those mentioned.

Guideline values in Kathirvedu

Kathirvedu village has 78 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value for K.V.R.Nagar is above this median.

• Lakshmi Kandammal Nagar: Rs 2,000 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,500 per sq.ft (2024)
• Kiruba Nagar: Rs 1,300 per sq.ft (2024)
• Mathew Street: Rs 1,100 per sq.ft (2024)
• Kannagi Street: Rs 1,100 per sq.ft (2024)
• Moorthy Nagar: Rs 1,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value would be Rs 20,00,000. The stamp duty at 7% would amount to Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total cost for these fees to Rs 1,80,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

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

The K.V.R.Nagar area is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Kathirvedu. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's assessed value, which is essential for maintaining transparency in real estate transactions.

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 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 82 per sq.ft in 2002 to Rs 2,000 per sq.ft in 2024, reflecting an overall increase of 2,339% over the years.

What is the classification of land in K.V.R.Nagar?

K.V.R.Nagar is classified as Residential Class II Type - III, indicating its suitability for residential development.

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

The stamp duty is charged at 7%, and the registration fee is 2%. For example, a property valued at Rs 20,00,000 would incur a total of Rs 1,80,000 in fees.

Where can I find the Sub Registrar Office for K.V.R.Nagar?

The Ambattur Sub Registrar Office covers K.V.R.Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.