Guideline Value for KFT City

KFT City guideline value

The current guideline value of KFT City, located in Sholavaram village under the Redhills SRO, is Rs 770 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of KFT City has changed

The guideline value for KFT City has undergone several revisions over the years. In 2012, the value was set at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in 2017. Following that, the value increased significantly to Rs 700 per sq.ft in 2023, and most recently, it rose to Rs 770 per sq.ft in the 2024 revision. It is important to note that the register has no figure for this street for the years 2002, 2003, and 2007.

Between 2012 and 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft. The median value for these streets is Rs 660 per sq.ft, placing KFT City's guideline value above this median.

• Kennedy Street: Rs 550 per sq.ft (2024)
• Kavaraikula Street: Rs 550 per sq.ft (2024)
• Katheja Nagar: Rs 550 per sq.ft (2024)
• Kathamba Nagar: Rs 660 per sq.ft (2024)
• Karunanidhi Street: Rs 550 per sq.ft (2024)
• KUMARAN NAGAR PART VI Extn (SRIDHAR AVENUE): Rs 1,165 per sq.ft (2024)

Stamp duty and registration fee for property in KFT City

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. 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 details.

Which Sub Registrar Office covers KFT City?

The Sub Registrar Office that covers KFT City is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Sholavaram. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. This value ensures that the government receives the appropriate revenue from property transactions.

During the registration process, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is accurately recorded and that the necessary fees are collected by the authorities.

Frequently asked questions

What is the current guideline value of KFT City?

The current guideline value of KFT City is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for KFT City?

The land classification for KFT City is Residential Class I Type - I.

What are the stamp duty and registration fees for properties in KFT City?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles property registrations for KFT City?

The Redhills Sub Registrar Office handles property registrations for KFT City, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.