Guideline Value for KKR Garden 1st St Main Road (Ward 18)

KKR Garden 1st St Main Road (Ward 18) guideline value

The current guideline value for KKR Garden 1st St Main Road (Ward 18) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of KKR Garden 1st St Main Road (Ward 18) has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This increased to Rs 1,340 per sq.ft in 2017, marking a decrease of 11%. Subsequently, the value rose significantly to Rs 2,000 per sq.ft in 2023, reflecting an increase of 49%. The current guideline value is Rs 2,200 per sq.ft from the 2024 revision, which is a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 47%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, placing KKR Garden 1st St Main Road's 2024 figure above that median.

• KKR Garden 10th Cross Street (Ward 18): Rs 2,200 per sq.ft (2024)
• KKR Garden 2nd St Main Road (Ward 18): Rs 2,200 per sq.ft (2024)
• K.K.R.Garden 2nd st ( Ward No.18): Rs 2,200 per sq.ft (2024)
• KKR Garden 3rd St Main Road (Ward 18): Rs 2,200 per sq.ft (2024)
• KKR Garden 4th St Main Road (Ward 18): Rs 2,200 per sq.ft (2024)
• KKR Garden 5th Cross Street (Ward 18): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in KKR Garden 1st St Main Road (Ward 18)

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 KKR Garden 1st St Main Road (Ward 18)?

The KKR Garden 1st St Main Road (Ward 18) falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Madhavaram. It is used to determine the stamp duty and registration fees that a buyer must pay when purchasing property.

When selling a property, the guideline value helps establish a baseline for the sale price, ensuring that both parties are aware of the minimum value recognized by the authorities. This ensures transparency during the transaction process.

Frequently asked questions

What is the current guideline value of KKR Garden 1st St Main Road?

The current guideline value of KKR Garden 1st St Main Road (Ward 18) 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 seen several changes, from Rs 1,500 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increasing to Rs 2,000 per sq.ft in 2023, and finally reaching Rs 2,200 per sq.ft in 2024.

What is the land classification of KKR Garden 1st St Main Road?

KKR Garden 1st St Main Road is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in KKR Garden 1st St Main Road is charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all property registrations in the area.