Guideline Value for KKR Garden 7th Cross Street (Ward 18)

KKR Garden 7th Cross Street (Ward 18) guideline value

The current guideline value of KKR Garden 7th Cross Street (Ward 18) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of KKR Garden 7th Cross Street (Ward 18) has changed

The guideline value for KKR Garden 7th Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 47%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, the guideline values for streets under the Madhavaram SRO range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for KKR Garden 7th Cross Street is above this median, reflecting its current valuation.

• KKR Garden 6th Cross Street (Ward 18): Rs 2,200 per sq.ft (2024)
• KKR Garden 8th Cross Street (Ward 18): Rs 2,200 per sq.ft (2024)
• KKR Garden 5th Cross Street (Ward 18): Rs 2,200 per sq.ft (2024)
• KKR Garden 9th Cross Street (Ward 18): Rs 2,200 per sq.ft (2024)
• KKR Garden 4th St Main Road (Ward 18): Rs 2,200 per sq.ft (2024)
• K.K.R.Garden ( Ward No.18): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in KKR Garden 7th 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, 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.

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

Which Sub Registrar Office covers KKR Garden 7th Cross Street (Ward 18)?

The Sub Registrar Office that covers KKR Garden 7th Cross Street is 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 plays a crucial role when buying or selling property in Madhavaram. It is used to determine the amount of stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures that the transaction is compliant with local regulations. It provides a standardized measure for property valuation, helping to facilitate smoother transactions in the real estate market.

Frequently asked questions

What is the current guideline value of KKR Garden 7th Cross Street?

The current guideline value of KKR Garden 7th 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 7th Cross Street?

The land classification for KKR Garden 7th Cross Street is Residential Class I Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for KKR Garden 7th Cross Street located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in this area.