Guideline Value for Kings Land

Kings Land guideline value

The current guideline value of Kings Land in Mevaloorkuppam village is Rs 700 per sq.ft, effective from 1 July 2024. This property falls under the Sriperumpudur SRO and is classified as Residential Special Type - II.

How the guideline value of Kings Land has changed

Over the years, the guideline value of Kings Land has seen several revisions. The earliest recorded revision is from 2007, where the value was Rs 250 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, marking a rise of 180%. However, in the subsequent revision of 2017, the value dropped to Rs 469 per sq.ft, a decrease of 33%. The value remained the same at Rs 700 per sq.ft in both the 2023 and 2024 revisions, indicating no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 value, there has been a total increase of 180%, reflecting the fluctuations in the property market over the years. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam, there are 69 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,400 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Kings Land is above this median, indicating its relative position within the village.

• kingsland Extension: Rs 700 per sq.ft (2024)
• Kulakkarai Street: Rs 700 per sq.ft (2024)
• Kulanthaivelu Nagar: Rs 200 per sq.ft (2024)
• Kannadapalayam Street: Rs 200 per sq.ft (2024)
• Kalaignar Street: Rs 200 per sq.ft (2024)
• Madha Koil Street Nedunsalai: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Kings Land

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty charged at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kings Land?

The Kings Land property is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mevaloorkuppam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the Registration Department.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is transparent and reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value for Kings Land?

The current guideline value for Kings Land in Mevaloorkuppam village is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 700 per sq.ft in 2023 and 2024. The value was Rs 469 per sq.ft in 2017, and it has increased by 180% from Rs 250 per sq.ft in 2007.

What is the land classification for Kings Land?

Kings Land is classified as Residential Special Type - II, which indicates its designated use within the village of Mevaloorkuppam.

Where can I find the Sub Registrar Office for Kings Land?

The Sub Registrar Office that covers Kings Land is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000, with applicable fees calculated accordingly.