Guideline Value for K.B.NAGAR

K.B.Nagar guideline value

The current guideline value of K.B.Nagar, located in Nanmangalam village, is Rs 3,300 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Mixed Type - II land.

How the guideline value of K.B.Nagar has changed

The guideline value for K.B.Nagar has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 3,000 per sq.ft, and it increased by 10% to Rs 3,300 per sq.ft in the 2024 revision.

This represents a significant change in value, reflecting a rise from the previous year's rate. The 2024 figure is now positioned above the median guideline value for other streets in Nanmangalam, which is Rs 2,750 per sq.ft.

Guideline values in Nanmangalam

Nanmangalam village features a range of guideline values across its 139 streets under the Pallavaram SRO, with rates varying from Rs 1,960 to Rs 3,850 per sq.ft. The guideline value for K.B.Nagar is above the median of Rs 2,750 per sq.ft. Below are the guideline values for other streets in Nanmangalam:

• Kayathri Nagar: Rs 1,980 per sq.ft (2024)
• Kavingar Kannadasan Street: Rs 2,750 per sq.ft (2024)
• Kiyyur Nisha Avenue: Rs 2,750 per sq.ft (2024)
• Karunai Sekaran Nagar: Rs 1,980 per sq.ft (2024)
• Karunai Sekaran 1 To 3 Streets: Rs 1,980 per sq.ft (2024)
• Kovalan Street: Rs 1,960 per sq.ft (2024)

Stamp duty and registration fee for property in K.B.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.B.Nagar?

K.B.Nagar falls under the Pallavaram Sub Registrar Office located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Nanmangalam

The guideline value is crucial during property transactions in Nanmangalam as it determines the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements.

When a property is bought or sold, the registration office uses the guideline value to assess the applicable fees. This value serves as a benchmark for calculating the costs associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of K.B.Nagar?

The current guideline value of K.B.Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, representing a 10% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Nanmangalam?

The median guideline value in Nanmangalam is Rs 2,750 per sq.ft. K.B.Nagar's guideline value is above this median.

Where can I find the Sub Registrar Office for K.B.Nagar?

The Sub Registrar Office covering K.B.Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How do stamp duty and registration fees work in K.B.Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000.