Guideline Value for K.K.NAGAR

K.K.Nagar guideline value

The current guideline value of K.K.Nagar in Venkatapuram village, under the Chengleput Joint II SRO, is Rs 400 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

Over the years, the guideline value of K.K.Nagar has seen several revisions. The 2007 revision set the value at Rs 40 per sq.ft, which was a significant low point. This increased dramatically to Rs 400 per sq.ft in the 2012 revision, marking a rise of 900%. However, from 2012 to 2017, the value decreased to Rs 268 per sq.ft, a drop of 33%. The 2017 revision then saw an increase to Rs 400 per sq.ft in 2023, maintaining that same value in the 2024 revision, reflecting no change from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the current 2024 value, there has been an increase of 900%.

Guideline values in Venkatapuram

In Venkatapuram, there are 29 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft, with the median being Rs 400 per sq.ft. The guideline value for K.K.Nagar matches this median.

• K.K.Nagar Extn- I: Rs 400 per sq.ft (2024)
• K.K.Nagar Extn-II: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling 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 more details.

Which Sub Registrar Office covers K.K.Nagar?

K.K.Nagar falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Venkatapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

In the registration process, the guideline value ensures that the transaction is documented at a value that reflects the prevailing rates in the area. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

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

The current guideline value of K.K.Nagar 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 significant changes, notably increasing from Rs 40 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreasing to Rs 268 per sq.ft in 2017, and remaining at Rs 400 per sq.ft in 2023 and 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.

Which Sub Registrar Office should I visit for property transactions in K.K.Nagar?

The Chengleput Joint II Sub Registrar Office covers K.K.Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for property in K.K.Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 400 per sq.ft would incur a total guideline value of Rs 4,00,000, resulting in a stamp duty of Rs 28,000.