Guideline Value for Kings Garden

Kings Garden guideline value

The current guideline value of Kings Garden, located in Thirumullaivoyal village under the Ambattur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - III land classification.

How the guideline value of Kings Garden has changed

In the 2012 revision, the guideline value for Kings Garden was set at Rs 1,000 per sq.ft. This figure remained unchanged through the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not provide figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Kings Garden is below this median.

• Kennedy Street(sri Nagar colony): Rs 2,700 per sq.ft (2024)
• K.K.Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• K.K.Nagar 1st street: Rs 2,200 per sq.ft (2024)
• K.K.Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• K.K.Nagar 2nd street: Rs 2,200 per sq.ft (2024)
• K.K.Nagar 3rd street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kings Garden

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kings Garden?

The Sub Registrar Office that covers Kings Garden is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the agreed sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kings Garden?

The current guideline value of Kings Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,000 per sq.ft in 2012 to Rs 1,100 per sq.ft in 2024, reflecting a 10% increase. There were no changes recorded in 2023, and the register does not provide figures for several years.

What is the land classification for Kings Garden?

Kings Garden is classified as Residential Class IV Type - III. This classification is important for understanding the zoning and permissible uses of the land.

Where can I find more information about the Sub Registrar Office?

The Ambattur Sub Registrar Office can be found at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can also find your SRO online.

How is the stamp duty calculated for properties in Kings Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.