Guideline Value for KR Garden

KR Garden guideline value

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

How the guideline value of KR Garden has changed

In the 2017 revision, the guideline value for KR Garden was set at Rs 167 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 250 per sq.ft. The latest revision in 2024 has kept the guideline value at Rs 250 per sq.ft, showing no change from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 50%, bringing the value from Rs 167 to Rs 250 per sq.ft. Overall, from 2017 to 2024, the guideline value has also increased by 50%.

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. The median guideline value is Rs 250 per sq.ft, which matches the current value of KR Garden.

• 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 amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, making the total cost for these fees 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 the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers KR Garden?

The Sub Registrar Office that covers KR Garden 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 is a crucial factor during the registration of property transactions in Somangalam_B. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value serves as a baseline for calculating the applicable taxes. Buyers and sellers should be aware that the final costs may vary based on the guideline value or the sale price, whichever is higher.

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 changed from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2024, reflecting a 50% increase over this period. There was no change from 2023 to 2024.

What is the land classification of KR Garden?

KR Garden falls under the Residential Class II Type - I land classification. This classification is important for understanding the usage and regulations applicable to the area.

Where is the Sub Registrar Office for KR Garden located?

The Sub Registrar Office for KR Garden is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles all registrations for properties in the area.

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, for a 1,000 sq.ft plot at Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000, with applicable fees calculated accordingly.