Guideline Value for K.K.NAGAR EXTN- I

K.K.Nagar Extn- I guideline value

The current guideline value for K.K.Nagar Extn- I is Rs 400 per sq.ft, effective from 1 July 2024. This property is located in Venkatapuram village under the Chengleput Joint II SRO, classified as Residential Class I Type - I.

How the guideline value of K.K.Nagar Extn- I has changed

The guideline value for K.K.Nagar Extn- I has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value was Rs 268 per sq.ft, reflecting a decrease of 33% from the previous revision. The 2023 revision maintained the value at Rs 400 per sq.ft, and the same value has been carried forward into the 2024 revision, showing no change from the 2023 figure.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 400 per sq.ft.

Guideline values in Venkatapuram

In Venkatapuram, there are 29 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft. The median value is Rs 400 per sq.ft, which is the same as the 2024 figure for K.K.Nagar Extn- I.

• K.K.Nagar Extn-II: Rs 400 per sq.ft (2024)
• K.K.Nagar: Rs 400 per sq.ft (2024)
• K.K.Nagar Extn-III: Rs 400 per sq.ft (2024)
• Kaveri Nagar: Rs 400 per sq.ft (2024)
• Lakshmi Nagar: Rs 400 per sq.ft (2024)
• Ganapathy Syndicate: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in K.K.Nagar Extn- I

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers K.K.Nagar Extn- I?

The K.K.Nagar Extn- I is covered by the Chengleput Joint II Sub Registrar Office located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Venkatapuram

The guideline value is a crucial factor in the registration process when buying or selling property in Venkatapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for K.K.Nagar Extn- I?

The current guideline value for K.K.Nagar Extn- I is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 400 per sq.ft in both 2023 and 2024. The value was Rs 268 per sq.ft in 2017 and Rs 400 per sq.ft in 2012.

What is the land classification for K.K.Nagar Extn- I?

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

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in the area.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000.