Guideline Value for K.C.R.NAGAR

K.C.R.Nagar guideline value

The current guideline value of K.C.R.Nagar, located in Neelamangalam village under the Gooduvancheri SRO, is Rs 1,344 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - II.

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

The guideline value for K.C.R.Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 900 per sq.ft, which remained unchanged until the 2023 revision, where it was still Rs 1,344 per sq.ft. The 2024 revision also maintains this figure, showing no change from the previous year. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has increased by the same percentage of 49%. This consistent value in the most recent revisions reflects stability in the guideline value for this area.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value for K.C.R.Nagar is above this median, indicating a higher valuation compared to many other streets in the village.

• K.C.R. Nagar Phase -II: Rs 1,344 per sq.ft (2024)
• Kesavan Garden: Rs 1,300 per sq.ft (2024)
• Kavalkaran Nagar: Rs 600 per sq.ft (2024)
• Kkr Nagar: Rs 900 per sq.ft (2024)
• Kamaraj Nagar: Rs 600 per sq.ft (2024)
• Madhan Square: Rs 500 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 1,344 per sq.ft, the total guideline value amounts to Rs 13,44,000. The stamp duty at 7% would be Rs 94,080, while the registration fee at 2% would be Rs 26,880, bringing the total cost for these fees to Rs 1,20,960. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

The K.C.R.Nagar area falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Neelamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

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 1,344 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,344 per sq.ft from 2023 to 2024, with a significant increase of 49% from Rs 900 per sq.ft in 2017 to the current value.

Are there any previous revisions for K.C.R.Nagar?

Yes, the previous revisions include Rs 900 per sq.ft in 2017 and Rs 1,344 per sq.ft in 2023. There are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

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

K.C.R.Nagar is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

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

The Gooduvancheri Sub Registrar Office covers K.C.R.Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.