Guideline Value for KMK Garden

KMK Garden guideline value

The current guideline value of KMK Garden in Thirunageswaram village, under the Kunrathur SRO, is Rs 1,550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of KMK Garden has changed

The guideline value for KMK Garden has seen several revisions over the years. The 2007 revision set the value at Rs 300 per sq.ft, which significantly increased to Rs 1,400 per sq.ft in 2012. However, this value decreased by 33% to Rs 938 per sq.ft in 2017. The 2023 revision raised the value to Rs 1,400 per sq.ft, and the most recent revision in 2024 increased it further to Rs 1,550 per sq.ft, marking an 11% increase from the previous year.

In summary, the changes in guideline value from 2007 to 2024 show a substantial overall increase of 417%. The revisions for 2002 and 2003 do not have figures available for KMK Garden in the register.

Guideline values in Thirunageswaram

In Thirunageswaram, there are 105 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median guideline value is Rs 1,550 per sq.ft, which is equal to the current value of KMK Garden. Below are other streets in Thirunageswaram with their respective guideline values:

• Kavara Street: Rs 1,550 per sq.ft (2024)
• Kulakkarai Street (East) /Lane: Rs 1,550 per sq.ft (2024)
• Kulakkarai Street (West): Rs 1,550 per sq.ft (2024)
• Kundrathur Main Road: Rs 2,000 per sq.ft (2024)
• Kuzhai Street: Rs 1,550 per sq.ft (2024)
• Kanniappan Nagar V.O.C. Chidambaranar Street: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in KMK Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value amounts to Rs 15,50,000. The stamp duty charged at 7% would be Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, making the total fees together Rs 1,39,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers KMK Garden?

The Sub Registrar Office that covers KMK Garden is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For further information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Thirunageswaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. Buyers and sellers must consider this value to avoid any discrepancies during the registration process, as it affects the overall costs involved in the transaction.

Frequently asked questions

What is the current guideline value of KMK Garden?

The current guideline value of KMK Garden is Rs 1,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,550 per sq.ft in 2024, showing an overall increase of 417% over the years.

What is the land classification for KMK Garden?

KMK Garden is classified as Residential Special Type - II, indicating its intended use for residential purposes.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in KMK Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total stamp duty of Rs 1,08,500 at 7%.