Guideline Value for K.K. Nagar

K.K. Nagar guideline value

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

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

Since the 2012 revision, the guideline value for K.K. Nagar has seen a steady increase. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was again Rs 2,000 per sq.ft, but it increased to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. K.K. Nagar's 2024 guideline value of Rs 2,200 per sq.ft is above this median.

• Kittu Thottam (Ward-7): Rs 1,300 per sq.ft (2024)
• Kilburn Nagar (Ward-11): Rs 1,600 per sq.ft (2024)
• Kilburn Nagar Roads (Ward No.11): Rs 1,600 per sq.ft (2024)
• Kilbarns Nagar Extension: Rs 1,600 per sq.ft (2024)
• Kilbarns Nagar: Rs 1,600 per sq.ft (2024)
• KGL Nagar (Ward-30): Rs 1,300 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 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, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.K. Nagar?

The K.K. Nagar area is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property in Madhavaram, it is essential to be aware of the current guideline value to ensure compliance with local regulations and to accurately assess the financial implications of the transaction.

Frequently asked questions

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

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

How has the guideline value changed in recent years?

Since the 2012 revision, the guideline value has increased by 10%. The value was Rs 2,000 per sq.ft in 2012 and remained the same until 2023, when it increased to Rs 2,200 per sq.ft in 2024.

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

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

What are the stamp duty and registration fees for property in K.K. Nagar?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or sale price, whichever is higher.

Which office handles registrations for K.K. Nagar?

The Madhavaram Sub Registrar Office handles registrations for K.K. Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.