Guideline Value for K K Nagar 2nd Street

K K Nagar 2nd Street guideline value

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

How the guideline value of K K Nagar 2nd Street has changed

Over the years, the guideline value for K K Nagar 2nd Street has seen significant changes. In 2007, the value was Rs 700 per sq.ft, which increased dramatically to Rs 2,500 per sq.ft in 2012, marking a 257% rise. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,800 per sq.ft in 2024, reflecting a 12% increase.

There are no figures available for the revisions in 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing K K Nagar 2nd Street's 2024 figure below that median.

• K K Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 1st 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 7th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in K K Nagar 2nd 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, leading to a total of Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers K K Nagar 2nd Street?

The K K Nagar 2nd Street is covered by 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 Thalakanancherry

The guideline value is a crucial factor during the registration of property transactions in Thalakanancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the correct stamp duty and registration fees based on the property's value. Buyers should be aware that these fees are calculated on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of K K Nagar 2nd Street?

The current guideline value of K K Nagar 2nd 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 changed significantly from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 300% over this period.

What is the land classification of K K Nagar 2nd Street?

K K Nagar 2nd Street is classified as Residential Class II Type - II.

Where is the Alandur Sub Registrar Office located?

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 2nd Street?

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