Guideline Value for KVS Street, Mrh Road (Ward-10)

KVS Street, Mrh Road (Ward-10) guideline value

The current guideline value of KVS Street, Mrh Road (Ward-10) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of KVS Street, Mrh Road (Ward-10) has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged in the subsequent 2017 revision, where it dropped to Rs 804 per sq.ft, reflecting a decrease of 33%. The value then increased significantly to Rs 1,200 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% rise from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2012 to 2024, it has increased by 8%. This change illustrates the fluctuations in the guideline value over the years, with the most recent revision indicating a positive adjustment.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with a 2024 guideline value range from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing KVS Street, Mrh Road (Ward-10) below this median.

• K.V.T. Garden Phase-I: Rs 2,700 per sq.ft (2024)
• K.V.T. Garden Phase-II: Rs 2,700 per sq.ft (2024)
• Kvt Garden Phase-III: Rs 2,700 per sq.ft (2024)
• Kurinji Nagar: Rs 1,300 per sq.ft (2024)
• Kuppu Street (Ward-1): Rs 1,300 per sq.ft (2024)
• Lakshmi Amman Koil Street (Ward-11): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in KVS Street, Mrh Road (Ward-10)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers KVS Street, Mrh Road (Ward-10)?

The KVS Street, Mrh Road (Ward-10) falls under the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. 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 helps both parties understand the fair value of the property being exchanged. It is advisable to consult the latest guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of KVS Street, Mrh Road (Ward-10)?

The current guideline value of KVS Street, Mrh Road (Ward-10) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent revision in 2024 increasing it to Rs 1,300 per sq.ft from Rs 1,200 per sq.ft in 2023. The value was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the classification of KVS Street, Mrh Road (Ward-10)?

KVS Street, Mrh Road (Ward-10) is classified as Residential Class III Type - I. This classification indicates the type of development and usage permitted in the area.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registration activities for properties in the area.

How is stamp duty calculated for properties in KVS Street, Mrh Road (Ward-10)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 91,000.