Guideline Value for KP SPRINGS

Kp Springs guideline value

The current guideline value of Kp Springs is Rs 3,350 per sq.ft, effective from 1 July 2024. This area is located in Chitthalapakkam village under the Selaiyur SRO and is classified as Residential Special Type - IV.

How the guideline value of Kp Springs has changed

The guideline value for Kp Springs has seen several revisions over the years. The 2017 revision set the value at Rs 2,060 per sq.ft, which was then increased to Rs 3,075 per sq.ft in the 2023 revision. The latest revision in 2024 has raised the value further to Rs 3,350 per sq.ft, marking a 9% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, the value has risen by 63%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft, with a median value of Rs 2,900 per sq.ft. The guideline value for Kp Springs is above this median.

• Kanni Koil Street: Rs 2,900 per sq.ft (2024)
• Madambakkam Main Road: Rs 2,850 per sq.ft (2024)
• Kambar Street: Rs 1,950 per sq.ft (2024)
• Kamaraj Street: Rs 1,950 per sq.ft (2024)
• Kamaraj Nagar: Rs 2,400 per sq.ft (2024)
• Kamaraj Avenue: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kp Springs

For a 1,000 sq.ft plot at the current guideline value of Rs 3,350 per sq.ft, the total guideline value amounts to Rs 33,50,000. The stamp duty charged at 7% would be Rs 2,34,500, and the registration fee at 2% would be Rs 67,000, bringing the total fees together to Rs 3,01,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kp Springs?

The Sub Registrar Office that covers Kp Springs is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers should be aware that these fees are based on the guideline value or the actual sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Kp Springs?

The current guideline value of Kp Springs is Rs 3,350 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,060 per sq.ft to Rs 3,350 per sq.ft in 2024, marking an overall increase of 63%.

What is the land classification for Kp Springs?

Kp Springs is classified as Residential Special Type - IV, indicating its use for residential purposes within the area.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a property with a guideline value of Rs 33,50,000, the fees would total Rs 3,01,500.