Guideline Value for KCG COLLEGE LAND

Kcg College Land guideline value

The current guideline value for Kcg College Land in Karapakkam village, under the Neelankarai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This land is classified as Residential Class II Type - II.

How the guideline value of Kcg College Land has changed

The guideline value for Kcg College Land has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft from the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it rose by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, making Kcg College Land's 2024 figure above that median.

• K.C.G.College Road: Rs 2,200 per sq.ft (2024)
• Konnark Trust Land: Rs 2,200 per sq.ft (2024)
• Krishnappan Garden: Rs 1,700 per sq.ft (2024)
• Kanniappan Garden: Rs 1,700 per sq.ft (2024)
• Kannappan Garden: Rs 1,700 per sq.ft (2024)
• Kandhasamy Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kcg College Land

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to 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 information.

Which Sub Registrar Office covers Kcg College Land?

The Kcg College Land falls under the jurisdiction of the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for additional details.

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

The guideline value is a crucial factor in property transactions in Karapakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements and to understand the financial implications of their transactions.

When buying or selling property, the guideline value serves as a benchmark for the transaction price. It is essential for both parties to consider this value to avoid any discrepancies during registration, as the fees are calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value for Kcg College Land?

The current guideline value for Kcg College Land is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and is now Rs 2,200 per sq.ft in 2024.

What is the land classification for Kcg College Land?

Kcg College Land is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the stamp duty rate for property in Kcg College Land?

The stamp duty rate for property transactions in Kcg College Land is 7%, which is calculated based on the higher of the guideline value or the sale price.