Guideline Value for K K Nagar 7th Street

K K Nagar 7th Street guideline value

The current guideline value of K K Nagar 7th 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 7th Street has changed

Over the years, the guideline value of K K Nagar 7th Street has seen significant changes. The 2007 revision set the value at Rs 700 per sq.ft, which then increased to Rs 2,500 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft. From 2017 to 2023, there was a substantial increase of 49%, bringing the value to Rs 2,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 2,800 per sq.ft, marking a 12% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. 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 that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value of K K Nagar 7th Street is below this median.

• K K Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 8th Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 5th Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 9th Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 3rd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in K K Nagar 7th Street

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

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K K Nagar 7th Street?

The K K Nagar 7th 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 during property registration in Thalakanancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction value. Buyers must be aware that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the actual sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of K K Nagar 7th Street?

The current guideline value of K K Nagar 7th 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 increased from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, marking a total increase of 300% over the years.

What is the registration office for K K Nagar 7th Street?

The registration office for K K Nagar 7th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 28,00,000, the stamp duty is Rs 1,96,000 and the registration fee is Rs 56,000, totaling Rs 2,52,000.

Are there other streets with the same guideline value in Thalakanancherry?

Yes, other streets in Thalakanancherry, such as K K Nagar 6th Street, K K Nagar 8th Street, K K Nagar 5th Street, K K Nagar 9th Street, K K Nagar 4th Street, and K K Nagar 3rd Street, also have a guideline value of Rs 2,800 per sq.ft in 2024.