Guideline Value for K.K. Nagar

K.K. Nagar guideline value

The current guideline value of K.K. Nagar is Rs 2,001 per sq.ft, effective from 1 July 2024. This area is located in Gooduvancheri village under the Gooduvancheri SRO and is classified as Residential Special 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 most recent revision in 2024 set the value at Rs 2,001 per sq.ft, which is a slight increase from the 2023 revision of Rs 2,000 per sq.ft. Prior to that, in 2017, the guideline value was Rs 1,340 per sq.ft, marking a significant increase of 49% from 2017 to 2023, and the same percentage increase from 2017 to 2024.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The revisions from 2017 to 2024 indicate a consistent upward trend in the guideline value, with the most recent figure reflecting the current market conditions.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, placing K.K. Nagar's 2024 figure above that median.

• KJ Nagar Extn: Rs 1,000 per sq.ft (2024)
• K.J. Nagar: Rs 1,200 per sq.ft (2024)
• Krishna Nagar: Rs 1,200 per sq.ft (2024)
• Kanniyappa Nagar: Rs 2,001 per sq.ft (2024)
• Kumaran Nagar: Rs 1,500 per sq.ft (2024)
• Kannagi Street: Rs 2,001 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 rate of Rs 2,001 per sq.ft, the guideline value would be Rs 20,01,000. The stamp duty at 7% would amount to Rs 1,40,070, and the registration fee at 2% would be Rs 40,020, bringing the total to Rs 1,80,090. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers K.K. Nagar?

The Sub Registrar Office that covers K.K. Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Gooduvancheri. It is used to determine the stamp duty and registration fees that must be paid when a property is sold or purchased.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is taken into account for calculating the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of K.K. Nagar is Rs 2,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,001 per sq.ft in 2024, reflecting a 49% increase over this period.

What is the registration office for K.K. Nagar?

The registration office for K.K. Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot, the total cost including stamp duty and registration fees can be calculated using the guideline value.

Are there other streets in Gooduvancheri with different guideline values?

Yes, there are several other streets in Gooduvancheri with varying guideline values. The values range from Rs 1,000 to Rs 3,500 per sq.ft, with K.K. Nagar being above the median value of Rs 1,500 per sq.ft.