Guideline Value for Kilaku Madaveethi Street

Kilaku Madaveethi Street guideline value

The current guideline value of Kilaku Madaveethi Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kovur village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Kilaku Madaveethi Street has changed

The guideline value for Kilaku Madaveethi Street has undergone several revisions over the years. In 2003, the value was Rs 112 per sq.ft, which increased to Rs 250 per sq.ft in 2007. The 2012 revision saw the value rise to Rs 1,200 per sq.ft, but it then decreased to Rs 804 per sq.ft in 2017. The 2023 revision brought it back up to Rs 1,200 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft. Overall, from 2003 to 2024, the guideline value has increased by 1079%.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. The 2007 to 2012 period saw a substantial increase of 380%, and from 2003 to 2007, the value rose by 123%. The register has no figure for Kilaku Madaveethi Street for the year 2002.

Guideline values in Kovur

Kovur village has 91 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Kilaku Madaveethi Street is below this median.

• K.N.B. Nagar: Rs 1,430 per sq.ft (2024)
• Krishna Street (Suresh Nagar): Rs 1,650 per sq.ft (2024)
• Kanniappan Garden: Rs 1,430 per sq.ft (2024)
• Kumaran Nagar: Rs 1,320 per sq.ft (2024)
• Kanabiran Koil Street: Rs 1,650 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kilaku Madaveethi Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kilaku Madaveethi Street?

The Sub Registrar Office covering Kilaku Madaveethi Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kovur. It determines the minimum value at which a property can be registered, and it is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, it is essential to consider the guideline value as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kilaku Madaveethi Street?

The current guideline value of Kilaku Madaveethi Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 112 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 1079% over this period.

What is the median guideline value in Kovur?

The median guideline value in Kovur is Rs 1,650 per sq.ft for 2024, with Kilaku Madaveethi Street's value being below this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Kilaku Madaveethi Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Kilaku Madaveethi Street?

The Sub Registrar Office for Kilaku Madaveethi Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.