Guideline Value for K.K. NAGAR

K.K. Nagar guideline value

The current guideline value of K.K. Nagar, located in Malayambakkam village under the Kunrathur SRO, is Rs 1,210 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

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 most recent revision in 2024 set the value at Rs 1,210 per sq.ft, an increase of 10% from Rs 1,100 per sq.ft in 2023. Prior to that, the value was Rs 737 per sq.ft in 2017, marking a significant increase of 49% over the six years.

In earlier revisions, the guideline value was Rs 1,100 per sq.ft in 2012, which represented a decrease of 33% from the 2017 figure. The register has no figures for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft. The median guideline value in this area is Rs 935 per sq.ft, placing K.K. Nagar's 2024 figure above that median.

• Lakshmipathi Nagar: Rs 660 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,210 per sq.ft (2024)
• Mariamman Koil Street: Rs 880 per sq.ft (2024)
• Jayalakshmi Nagar Annexure -III: Rs 1,650 per sq.ft (2024)
• Jayalakshmi Nagar Annexure 2: Rs 1,650 per sq.ft (2024)
• Jayalakshmi Nagar Anex - 1: Rs 800 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 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total cost for these fees to Rs 1,08,900. 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 detailed calculations.

Which Sub Registrar Office covers K.K. Nagar?

The Sub Registrar Office that covers K.K. Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Malayambakkam. It serves as the basis for calculating the stamp duty and registration fees that need to be paid during the property transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value helps determine the official value of the transaction. This value is essential for both parties to understand the financial implications of the sale, including the fees associated with the registration process.

Frequently asked questions

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

The current guideline value of K.K. Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2023 to Rs 1,210 per sq.ft in 2024, reflecting a 10% increase. The value was Rs 737 per sq.ft in 2017, showing a 49% increase over the following years.

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

The land classification for K.K. Nagar is Residential Special Type - I, indicating its designated use for residential purposes.

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

The Sub Registrar Office for K.K. Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000, leading to specific fees based on that value.