Guideline Value for K.K. NAGAR

K.K. Nagar guideline value

The current guideline value of K.K. Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Vengambakkam village under the Tambaram Joint 1 SRO, classified as Mixed Special Type - I.

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

The guideline value for K.K. Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 2,000 per sq.ft. This increased significantly in the 2023 revision to Rs 3,000 per sq.ft, marking a 50% rise. The most recent revision in 2024 further increased the guideline value to Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 5,000 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing K.K. Nagar's 2024 figure above that median.

• Kavina Garden: Rs 3,300 per sq.ft (2024)
• Krishna Nagar: Rs 1,160 per sq.ft (2024)
• Lilly Nagar: Rs 1,100 per sq.ft (2024)
• Kalaingar Street: Rs 440 per sq.ft (2024)
• Kakanji Street: Rs 440 per sq.ft (2024)
• Mahatma Gandhi Cross Street: Rs 440 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty, charged at 7%, would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.K. Nagar?

The K.K. Nagar area falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vengambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When a property is sold, the guideline value helps in assessing the stamp duty payable, which is calculated based on the higher of the guideline value or the sale price. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

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

The current guideline value of K.K. Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,000 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 65%.

What is the stamp duty rate for property in K.K. Nagar?

The stamp duty rate for property in K.K. Nagar is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for K.K. Nagar is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

What are the guideline values of other streets in Vengambakkam?

Other streets in Vengambakkam have varying guideline values, with figures ranging from Rs 440 to Rs 5,000 per sq.ft. K.K. Nagar's value is above the median of Rs 770 per sq.ft for the area.