Guideline Value for K K Nagar 3rd Street

K K Nagar 3rd Street guideline value

The current guideline value of K K Nagar 3rd 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 3rd Street has changed

The guideline value for K K Nagar 3rd Street has undergone several revisions over the years. The earliest available figure is from 2007, where the guideline value was Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a 257% increase. However, the value dropped to Rs 1,675 per sq.ft in 2017, which was a decrease of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, and finally to the current rate of Rs 2,800 per sq.ft in 2024, reflecting a 12% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 300%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

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

• K K Nagar 2nd 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 3rd 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 fees to Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers K K Nagar 3rd Street?

The K K Nagar 3rd 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 a crucial factor in the registration process when buying or selling property in Thalakanancherry. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded at a fair price.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of K K Nagar 3rd Street?

The current guideline value of K K Nagar 3rd 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 revisions, starting from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 300% over the years.

What is the land classification for K K Nagar 3rd Street?

K K Nagar 3rd Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, on a 1,000 sq.ft plot, the total fees would be Rs 2,52,000.

Which Sub Registrar Office handles registrations for K K Nagar 3rd Street?

The Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, handles registrations for K K Nagar 3rd Street.