Guideline Value for K B Street

K B Street guideline value

The current guideline value of K B Street in Ullagaram village, under the Alandur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of K B Street has changed

Over the years, the guideline value of K B Street has seen significant changes. The earliest recorded figure is from 2002, with a guideline value of Rs 265 per sq.ft. This figure increased to Rs 297 per sq.ft in 2003, marking a rise of approximately 12%. Subsequently, in 2007, the value surged to Rs 1,000 per sq.ft, reflecting a substantial increase of 237%. The value then reached Rs 4,000 per sq.ft in 2012, indicating a 300% rise from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 2,680 per sq.ft, a decline of 33%. However, this was followed by a significant increase to Rs 4,000 per sq.ft in 2023, representing a 49% rise. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year. There are no figures available for the years not mentioned in the register for K B Street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO with a 2024 guideline value range from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,800 per sq.ft, placing K B Street's 2024 figure above this median.

• Karunanidhi Nagar: Rs 2,200 per sq.ft (2024)
• Komathi Street: Rs 3,900 per sq.ft (2024)
• Kariyan Ponnan Street: Rs 2,800 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Krishna Nagar 3rd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in K B Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 information.

Which Sub Registrar Office covers K B Street?

The Sub Registrar Office that covers K B Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Ullagaram. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered the minimum value for the transaction. This means that the stamp duty and registration fees are calculated based on this value or the sale price, whichever is higher, ensuring that the government receives an appropriate amount from property transactions.

Frequently asked questions

What is the current guideline value of K B Street?

The current guideline value of K B Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 265 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, showing a significant overall increase of 1560% over the years.

What is the land classification for K B Street?

K B Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for K B Street?

The Sub Registrar Office for K B Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated for properties in K B Street?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 3,96,000 in fees.