Guideline Value for Kilakkumadaveethi

Kilakkumadaveethi guideline value

The current guideline value of Kilakkumadaveethi is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Konnur village, under the Konnur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kilakkumadaveethi has changed

The guideline value for Kilakkumadaveethi has undergone several revisions over the years. In 2002, the value was Rs 449 per sq.ft, which increased to Rs 487 per sq.ft in 2003. The value then saw a significant rise to Rs 1,000 per sq.ft in 2007, followed by a further increase to Rs 5,000 per sq.ft in 2012. However, it dropped to Rs 3,350 per sq.ft in 2017. The most recent revisions show an increase to Rs 5,000 per sq.ft in 2023 and a further rise to the current value of Rs 5,500 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. The changes from 2002 to 2024 show an overall increase of 1,125% in the guideline value for this street.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO, with guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft in 2024. The median guideline value for these streets is Rs 3,800 per sq.ft, placing Kilakkumadaveethi's current value above this median.

• Kilakku Kolathur Main Road - I (Railway Gate to Muslim Burial Ground): Rs 5,500 per sq.ft (2024)
• Kilakkumadaveethi Extension: Rs 5,500 per sq.ft (2024)
• Kilakku Kolathur Main Road - II (Muslim Burial Ground to Mogambigai Koil): Rs 5,500 per sq.ft (2024)
• K.K. Nagar: Rs 3,800 per sq.ft (2024)
• Kattabomman Street: Rs 3,800 per sq.ft (2024)
• Kathuvan Kuttai (Valluvar Nagar): Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Kilakkumadaveethi

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, these fees would total Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kilakkumadaveethi?

The Sub Registrar Office that covers Kilakkumadaveethi is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial reference point when buying or selling property in Konnur. It is used to determine the applicable stamp duty and registration fees during the registration process. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value helps establish the minimum value for taxation purposes. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being registered.

Frequently asked questions

What is the current guideline value of Kilakkumadaveethi?

The current guideline value of Kilakkumadaveethi is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 449 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 1,125% over this period.

What are the stamp duty and registration fees for property in Kilakkumadaveethi?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,95,000.

Which Sub Registrar Office covers Kilakkumadaveethi?

The Konnur Sub Registrar Office covers Kilakkumadaveethi, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification of Kilakkumadaveethi?

Kilakkumadaveethi is classified as Residential Class I Type - I, indicating its designation for residential use within the Konnur village.