Guideline Value for K.K. Nagar (Ward-07)

K.K. Nagar (Ward-07) guideline value

The current guideline value of K.K. Nagar (Ward-07) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of K.K. Nagar (Ward-07) has changed

Over the years, the guideline value for K.K. Nagar has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision increased the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is also +10%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, the guideline values for 2024 range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for K.K. Nagar is above this median, indicating its relative position within the village.

• KKR Garden 10th Cross Street: Rs 2,200 per sq.ft (2024)
• KKR Garden 1st St Main Road: Rs 2,200 per sq.ft (2024)
• KKR Garden 2nd St Main Road: Rs 2,200 per sq.ft (2024)
• K.K.R.Garden 2nd st: Rs 2,200 per sq.ft (2024)
• KKR Garden 3rd St Main Road: Rs 2,200 per sq.ft (2024)
• KKR Garden 4th St Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in K.K. Nagar (Ward-07)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and 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 (Ward-07)?

The Sub Registrar Office covering K.K. Nagar (Ward-07) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential for 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 (Ward-07)?

The current guideline value of K.K. Nagar (Ward-07) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase over this period.

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 the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the guideline values for other streets in Madhavaram?

Other streets in Madhavaram have guideline values that also reflect the local market, with rates for 2024 ranging from Rs 2,200 per sq.ft for several streets, similar to K.K. Nagar.