Guideline Value for K.K. Nagar

K.K. Nagar guideline value

The current guideline value for K.K. Nagar in Peerklankaranai village, under the Tambaram Joint 1 SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

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 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and currently stands at Rs 2,200 per sq.ft as per the 2024 revision. The register has no figure for this street in the years 2002, 2003, and 2007.

Between the revisions, notable changes include a 10% increase from 2023 to 2024, and a 49% increase from 2017 to 2023. The overall change from 2012 to 2024 is a 10% increase, while the period from 2012 to 2017 saw a decrease of 33%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing K.K. Nagar's 2024 figure above this median.

• K.K. Nagar Roja Street: Rs 1,320 per sq.ft (2024)
• Kirubanandavariyar Street: Rs 1,100 per sq.ft (2024)
• Kesavan Nagar: Rs 1,650 per sq.ft (2024)
• Kaveri Street: Rs 2,200 per sq.ft (2024)
• Kattabomman Street: Rs 1,320 per sq.ft (2024)
• Kattabomman 5th Cross st: Rs 880 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 would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total charges 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 the stamp duty and registration fee calculator for more information on fees applicable to your property.

Which Sub Registrar Office covers K.K. Nagar?

The K.K. Nagar area is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs involved in the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value for K.K. Nagar 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 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft in 2024.

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

The land classification for K.K. Nagar is Residential Special Type - I.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property at the current guideline value, the total charges amount to Rs 1,98,000.

Where is the Sub Registrar Office for K.K. Nagar located?

The Tambaram Joint 1 Sub Registrar Office for K.K. Nagar is located at No.26, Mes Road, East Tambaram, Chennai-600059.