Guideline Value for kingsland Extension

kingsland Extension guideline value

The current guideline value for kingsland Extension in Mevaloorkuppam village, under the Sriperumpudur SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of kingsland Extension has changed

Looking at the revisions, the guideline value for kingsland Extension was Rs 700 per sq.ft in 2012, which then decreased to Rs 469 per sq.ft in 2017. Following this, the value increased significantly to Rs 700 per sq.ft in both the 2023 and 2024 revisions, indicating a 49% increase from 2017 to 2023, and no change from 2023 to 2024. The register has no figure for this street in the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has remained at Rs 700 per sq.ft, showing a notable fluctuation between the years but ultimately returning to the 2012 figure. The guideline value reflects the current market conditions and the classification of the land.

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 of Rs 400 per sq.ft. The guideline value for kingsland Extension is above this median.

• Kings Land: 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 kingsland Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. 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 details.

Which Sub Registrar Office covers kingsland Extension?

The kingsland Extension area 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 during the registration of property transactions in Mevaloorkuppam. It helps determine the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the necessary fees, ensuring that both the buyer and seller are aware of the costs involved in the transaction. This value serves as an official reference point for property transactions in the area.

Frequently asked questions

What is the current guideline value of kingsland Extension?

The current guideline value of kingsland Extension is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has fluctuated, decreasing to Rs 469 per sq.ft in 2017 and then returning to Rs 700 per sq.ft in 2023 and 2024.

What is the land classification for kingsland Extension?

kingsland Extension is classified as Residential Special Type - II, which influences its guideline value.

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

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000, and the registration fee would be Rs 14,000, totaling Rs 63,000.

Which office handles property registrations for kingsland Extension?

The Sriperumpudur Sub Registrar Office handles property registrations for kingsland Extension, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.