Guideline Value for K K Nagar 8th Street

K K Nagar 8th Street guideline value

The current guideline value of K K Nagar 8th 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 8th Street has changed

The guideline value of K K Nagar 8th 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 then decreased by 33% to Rs 1,675 per sq.ft in 2017. The value saw a substantial rise of 49% to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,800 per sq.ft in 2024, marking a 12% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for K K Nagar 8th 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 with 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. K K Nagar 8th Street's 2024 guideline value is below this median.

• K K Nagar 7th Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 9th Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 6th Street: Rs 2,800 per sq.ft (2024)
• K K Nagar 5th 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 8th 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 be Rs 1,96,000, and 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers K K Nagar 8th Street?

The Sub Registrar Office that covers K K Nagar 8th Street is 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 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 government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of K K Nagar 8th Street?

The current guideline value of K K Nagar 8th 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, marking a total increase of 300% over the years.

What is the land classification for K K Nagar 8th Street?

K K Nagar 8th Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

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 8th Street?

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