Guideline Value for KKR Garden 5th Cross Street (Ward 18)

KKR Garden 5th Cross Street (Ward 18) guideline value

The current guideline value of KKR Garden 5th Cross Street (Ward 18) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of KKR Garden 5th Cross Street (Ward 18) has changed

The guideline value for KKR Garden 5th Cross Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in 2017, reflecting a decline of 11%. However, from 2017 to 2023, the value saw a significant increase to Rs 2,000 per sq.ft, which is a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for KKR Garden 5th Cross Street. Overall, from 2012 to 2024, the guideline value has increased by 47%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, and KKR Garden 5th Cross Street's 2024 figure of Rs 2,200 per sq.ft is above that median.

• KKR Garden 4th St Main Road (Ward 18): Rs 2,200 per sq.ft (2024)
• KKR Garden 6th Cross Street (Ward 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 7th Cross Street (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 8th Cross Street (Ward 18): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in KKR Garden 5th Cross Street (Ward 18)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, resulting in a total cost of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more calculations.

Which Sub Registrar Office covers KKR Garden 5th Cross Street (Ward 18)?

The KKR Garden 5th Cross Street (Ward 18) falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Madhavaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property registration. This ensures compliance with local regulations and helps in the smooth transfer of property ownership.

Frequently asked questions

What is the current guideline value of KKR Garden 5th Cross Street (Ward 18)?

The current guideline value of KKR Garden 5th Cross Street (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 changed from Rs 1,500 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 finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for KKR Garden 5th Cross Street?

The land classification for KKR Garden 5th Cross Street is Residential Class I Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in KKR Garden 5th Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,54,000.