Guideline Value for KVT GARDEN PHASE-III

Kvt Garden Phase-III guideline value

The current guideline value of Kvt Garden Phase-III is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Special Type - I.

How the guideline value of Kvt Garden Phase-III has changed

The guideline value for Kvt Garden Phase-III has seen significant changes over the years. In the 2017 revision, the value was Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, which is an 8% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 61%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value for the village is Rs 1,600 per sq.ft, placing Kvt Garden Phase-III's 2024 value above this median.

• K.V.T. Garden Phase-II: Rs 2,700 per sq.ft (2024)
• K.V.T. Garden Phase-I: Rs 2,700 per sq.ft (2024)
• KVS Street, Mrh Road (Ward-10): Rs 1,300 per sq.ft (2024)
• Kurinji Nagar: Rs 1,300 per sq.ft (2024)
• Lakshmi Amman Koil Street (Ward-11): Rs 1,300 per sq.ft (2024)
• Lakshmi Amman Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kvt Garden Phase-III

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. 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 more detailed calculations.

Which Sub Registrar Office covers Kvt Garden Phase-III?

The Sub Registrar Office covering Kvt Garden Phase-III is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madhavaram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to determine the applicable fees. This ensures that all transactions are transparent and adhere to the established legal framework in the region.

Frequently asked questions

What is the current guideline value of Kvt Garden Phase-III?

The current guideline value of Kvt Garden Phase-III is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,700 per sq.ft in 2024, marking a total increase of 61% over this period.

What are the stamp duty and registration fees for properties in Kvt Garden Phase-III?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers Kvt Garden Phase-III?

The Madhavaram Sub Registrar Office covers Kvt Garden Phase-III, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Kvt Garden Phase-III?

Kvt Garden Phase-III is classified as Residential Special Type - I, indicating its intended use for residential purposes.