Guideline Value for KR Garden Phase-II

KR Garden Phase-II guideline value

The current guideline value of KR Garden Phase-II is Rs 400 per sq.ft, effective from 1 July 2024. This property is located in Somangalam_B village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of KR Garden Phase-II has changed

The guideline value for KR Garden Phase-II has undergone several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was Rs 268 per sq.ft. This figure remained unchanged until the 2023 revision, which also listed the value at Rs 400 per sq.ft. The most recent revision in 2024 maintained this value at Rs 400 per sq.ft, showing no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has increased by 49%, reflecting the same value of Rs 400 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 2,500 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for KR Garden Phase-II is above this median.

• KR Garden: Rs 250 per sq.ft (2024)
• Kulakkarai street: Rs 400 per sq.ft (2024)
• Kasthuri Nagar: Rs 400 per sq.ft (2024)
• Kundrathur main road: Rs 500 per sq.ft (2024)
• Karuneekar Nagar: Rs 250 per sq.ft (2024)
• Kanthapuri: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in KR Garden Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers KR Garden Phase-II?

The Sub Registrar Office that covers KR Garden Phase-II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Somangalam_B. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall cost of the transaction. Buyers should ensure that they are prepared for the associated fees based on this value, as it is a key factor in the registration process.

Frequently asked questions

What is the current guideline value for KR Garden Phase-II?

The current guideline value for KR Garden Phase-II is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2023 to 2024, and it increased by 49% from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023 and 2024.

What is the land classification for KR Garden Phase-II?

KR Garden Phase-II is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for KR Garden Phase-II?

The Sub Registrar Office for KR Garden Phase-II is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in KR Garden Phase-II?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 4,00,000 will incur a stamp duty of Rs 28,000 at 7%.