Guideline Value for K.K Nagar

K.K Nagar guideline value

The current guideline value of K.K Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This property is located in Mannivakkam village, under the Gooduvancheri SRO, with a land classification of Residential Special Type - II.

How the guideline value of K.K Nagar has changed

The guideline value for K.K Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which was then reduced to Rs 603 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 900 per sq.ft in 2023, and currently stands at Rs 990 per sq.ft from the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to 2017, the value decreased by 33%. However, there was a notable increase of 49% from 2017 to 2023. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has seen a rise of 10%.

Guideline values in Mannivakkam

Mannivakkam has a total of 118 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,215 per sq.ft, placing K.K Nagar's current value below this median.

• Karumariamman Nagar: Rs 990 per sq.ft (2024)
• Karumari Amman Kovil Theru: Rs 1,320 per sq.ft (2024)
• Krishnavijayam Nagar: Rs 990 per sq.ft (2024)
• Kulakarai Street: Rs 990 per sq.ft (2024)
• Karapudi Amman Koil Street: Rs 2,640 per sq.ft (2024)
• Kannan Nagar: Rs 990 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, while the registration fee at 2% would be Rs 19,800, bringing the total to Rs 89,100. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.K Nagar?

K.K Nagar falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mannivakkam, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory expenses in any real estate transaction.

Additionally, the guideline value helps ensure transparency in property transactions, providing a standardized measure for valuing properties. Buyers and sellers must be aware of the current guideline value to avoid discrepancies during registration.

Frequently asked questions

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

The current guideline value of K.K Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and is currently Rs 990 per sq.ft in 2024.

What is the land classification of K.K Nagar?

K.K Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in K.K Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 9,90,000, the stamp duty would be Rs 69,300.