Guideline Value for K.C.R . Nagar

K.C.R . Nagar guideline value

The current guideline value of K.C.R . Nagar, located in Pothur village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of K.C.R . Nagar has changed

The guideline value of K.C.R . Nagar has undergone several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 23 per sq.ft. This figure saw a significant increase to Rs 300 per sq.ft in 2007, marking a change of +1204%. In 2012, the value was revised to Rs 500 per sq.ft, which was a decrease of -33%. The 2017 revision raised it to Rs 335 per sq.ft, followed by a substantial increase to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024, reflecting a +10% change from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by +2291%. It is important to note that there is no figure for K.C.R . Nagar in the 2002 revision.

Guideline values in Pothur

Pothur village has a total of 98 streets under the Redhills SRO, with guideline values ranging from Rs 330 to Rs 2,000 per sq.ft. The median guideline value in this area is Rs 550 per sq.ft, which matches the current value of K.C.R . Nagar.

• Kirubai Nagar: Rs 550 per sq.ft (2024)
• K.S.P Nagar: Rs 550 per sq.ft (2024)
• Kannialal Nagar: Rs 550 per sq.ft (2024)
• Lake View Garden: Rs 440 per sq.ft (2024)
• Lakshmi Nagar: Rs 440 per sq.ft (2024)
• Lakshmi Nagar Extension: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in K.C.R . Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. Please 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 more details.

Which Sub Registrar Office covers K.C.R . Nagar?

The K.C.R . Nagar area falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Pothur. It determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware that the guideline value is set by the government and can vary significantly between different areas.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded at an appropriate value. This helps in maintaining transparency and fairness in property dealings, as the guideline value reflects the prevailing market conditions as assessed by the authorities.

Frequently asked questions

What is the current guideline value of K.C.R . Nagar?

The current guideline value of K.C.R . Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 23 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, reflecting an overall increase of +2291% over the years.

What is the land classification of K.C.R . Nagar?

K.C.R . Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in K.C.R . Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 5,50,000, the total fees would amount to Rs 49,500.

Which Sub Registrar Office covers K.C.R . Nagar?

K.C.R . Nagar is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.