Guideline Value for K K Nagar 1st Street

K K Nagar 1st Street guideline value

The current guideline value of K K Nagar 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO and is classified as Residential Class II Type - II.

How the guideline value of K K Nagar 1st Street has changed

The guideline value for K K Nagar 1st Street has undergone several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The next revision in 2023 raised the value to Rs 2,500 per sq.ft, and the current value as of 2024 is Rs 2,800 per sq.ft. The changes between these revisions include a 257% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 12% increase from 2023 to 2024.

There are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,900 per sq.ft, and K K Nagar 1st Street's 2024 figure is below this median.

• K K Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 10th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in K K Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. Duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers K K Nagar 1st Street?

K K Nagar 1st Street falls under the jurisdiction of 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 more information.

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

The guideline value is an important factor in the registration process when buying or selling property in Thalakanancherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the higher value between the guideline value and the sale price is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for K K Nagar 1st Street?

The current guideline value for K K Nagar 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, increasing from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, with various fluctuations in between.

What is the land classification for K K Nagar 1st Street?

K K Nagar 1st Street is classified as Residential Class II Type - II under the current guidelines.

Where can I find the Alandur Sub Registrar Office?

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

How is stamp duty calculated for properties in K K Nagar 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 at a rate of 7%.