Guideline Value for KR Garden

KR Garden guideline value

The current guideline value of KR Garden, located in Somangalam village under the Sriperumpudur SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of KR Garden has changed

Looking back at the revisions, the guideline value for KR Garden was Rs 250 per sq.ft in 2023, which remained unchanged in the 2024 revision. Prior to that, in 2017, the value was Rs 167 per sq.ft, marking a 50% increase when compared to the 2023 figure. The 2012 revision also set the value at Rs 250 per sq.ft, which indicates a decrease of 33% from the 2017 figure.

Overall, from the 2012 revision to the current 2024 revision, the guideline value has remained constant at Rs 250 per sq.ft. The register does not contain figures for the years 2007, 2003, and 2002 for this street.

Guideline values in Somangalam

In Somangalam village, there are 86 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 150 to Rs 800 per sq.ft as of 2024. The median value for these streets is Rs 350 per sq.ft, placing KR Garden's current guideline value below this median.

• KR Garden Phase-II: Rs 400 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

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total charges to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information on fees.

Which Sub Registrar Office covers KR Garden?

KR Garden is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Somangalam, as it determines the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay when completing a property transaction.

When buying or selling property, it is essential to be aware of the guideline value, as it impacts the overall cost involved in the transaction. Buyers should ensure that the sale price meets or exceeds the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of KR Garden?

The current guideline value of KR Garden is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft from 2012 to 2024, with a previous increase to Rs 250 in 2023. The value was Rs 167 per sq.ft in 2017, which was a 50% increase from the previous figure.

What are the other streets in Somangalam with their guideline values?

Other streets in Somangalam include KR Garden Phase-II, Kulakkarai street, Kasthuri Nagar, Kundrathur main road, Karuneekar Nagar, and Kanthapuri, with values ranging from Rs 250 to Rs 500 per sq.ft in 2024.

What fees are associated with buying property in KR Garden?

When buying property in KR Garden, buyers must pay stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering KR Garden is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information online.