Guideline Value for K.K. NAGAR

K.K. Nagar guideline value

The current guideline value of K.K. Nagar, located in Ikkadu village under the Tiruvallur Joint 1 SRO, is Rs 400 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Class II 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 400 per sq.ft, which remained unchanged in the subsequent 2017 revision. The 2017 revision, however, saw a significant increase from the previous value of Rs 268 per sq.ft in 2017, marking a 49% rise. In the 2023 revision, the value was again maintained at Rs 400 per sq.ft, and the same value continues into the 2024 revision, reflecting no change.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 400 per sq.ft.

Guideline values in Ikkadu

In Ikkadu village, there are 51 streets under the Tiruvallur Joint 1 SRO, with the 2024 guideline values ranging from Rs 100 to Rs 1,400 per sq.ft. The median guideline value is Rs 400 per sq.ft, which is equal to the current value of K.K. Nagar.

• Keizpathy Street: Rs 400 per sq.ft (2024)
• Karpagatharu Nagar-Phase-II: Rs 500 per sq.ft (2024)
• Lakshmi Nagar Annex: Rs 400 per sq.ft (2024)
• Laksmi Nagar: Rs 400 per sq.ft (2024)
• Kalyana Kuppam Street: Rs 300 per sq.ft (2024)
• Mahalakshmi Nagar- Teachers Mahalakshmi Nagar: Rs 500 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 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.K. Nagar?

K.K. Nagar falls under the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ikkadu, as it determines the stamp duty and registration fees applicable when buying or selling property. Buyers must ensure that the sale price is either equal to or higher than the guideline value to comply with registration norms.

When registering a property, the guideline value serves as a benchmark for calculating the total costs involved in the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during 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 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2024, with no change from 2023 to 2024. The value remained at Rs 400 per sq.ft in 2012 and 2023.

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

K.K. Nagar is classified as Residential Class II Type - II, indicating its primary use for residential purposes.

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

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. These fees are essential for the legal registration of property transactions.

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

The Sub Registrar Office covering K.K. Nagar is the Tiruvallur Joint 1 SRO, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.