Guideline Value for KKR Garden 8th Cross Street (Ward 18)

KKR Garden 8th Cross Street (Ward 18) guideline value

The current guideline value of KKR Garden 8th 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 SRO, and is classified as Residential Class I Type - I.

How the guideline value of KKR Garden 8th Cross Street (Ward 18) has changed

The guideline value for KKR Garden 8th Cross Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. This was a decline of 11%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, marking a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, reflecting 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 this 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 in this area is Rs 1,600 per sq.ft, positioning KKR Garden 8th Cross Street above that median value.

• KKR Garden 7th 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 6th Cross Street (Ward 18): Rs 2,200 per sq.ft (2024)
• K.K.R.Garden ( Ward No.18 ): Rs 2,200 per sq.ft (2024)
• KKR Garden 5th 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)

Stamp duty and registration fee for property in KKR Garden 8th 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 is 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, totaling 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 information.

Which Sub Registrar Office covers KKR Garden 8th Cross Street (Ward 18)?

The Sub Registrar Office that covers KKR Garden 8th Cross Street (Ward 18) 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 in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are appropriately calculated.

When buying or selling property, the guideline value is used to assess the applicable stamp duty and registration fees. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of KKR Garden 8th Cross Street?

The current guideline value of KKR Garden 8th 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 8th Cross Street?

KKR Garden 8th Cross Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for KKR Garden 8th Cross Street?

The Sub Registrar Office for KKR Garden 8th Cross Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the stamp duty for a property in KKR Garden 8th Cross Street?

The stamp duty for property in KKR Garden 8th Cross Street is 7% of the guideline value or the sale price, whichever is higher.