Guideline Value for K K Nagar 5th Street

K K Nagar 5th Street guideline value

The current guideline value of K K Nagar 5th 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 5th Street has changed

The guideline value for K K Nagar 5th Street has seen several revisions over the years. In 2007, the value was set at Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure dropped to Rs 1,675 per sq.ft in 2017. The following revision in 2023 raised the value to Rs 2,500 per sq.ft, and the most recent revision in 2024 has brought it to Rs 2,800 per sq.ft.

Between these revisions, there have been notable changes. From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 12%. The period from 2007 to 2012 saw a substantial increase of 257%, but the value then decreased by 33% from 2012 to 2017. 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 that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing K K Nagar 5th Street's 2024 figure below this median.

• K K Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 7th Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 1st Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in K K Nagar 5th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. 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 further calculations.

Which Sub Registrar Office covers K K Nagar 5th Street?

The K K Nagar 5th 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 property transactions in Thalakanancherry, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid to the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. The guideline value is regularly updated, and staying informed about these changes can help in making better decisions during property dealings.

Frequently asked questions

What is the current guideline value of K K Nagar 5th Street?

The current guideline value of K K Nagar 5th Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed 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 5th Street?

K K Nagar 5th Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

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 the stamp duty calculated for properties in K K Nagar 5th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,800 per sq.ft would incur a total stamp duty and registration fee of Rs 2,52,000.