Guideline Value

Corporate

Guideline Value for K.K.Nagar 1st Sector 5th Street

₹7000/sq.ft.

The guideline value for K.k.nagar 1st Sector 5th Street in Kodambakkam village (Ashok Nagar SRO, Chennai zone) is Rs 7000 per sq.ft, effective 1 July 2024. It was Rs 6500 per sq.ft from 1 April 2023, a 8% change. The land classification is Residential Special Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Kodambakkam

Village

Ashok Nagar

SRO

Residential Special Type - III
History
Period Guideline Value
From 1-7-2024 ₹7000 /sq.ft.
From 1-4-2023 ₹6500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹4355 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹6500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1210 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 ( Near By Nolambur Eb Office )
044-29561082
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on K.k.nagar 1st Sector 5th Street

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K.K.Nagar 1st Sector 5th Street guideline value

The current guideline value of K.K.Nagar 1st Sector 5th Street is Rs 7,000 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of K.K.Nagar 1st Sector 5th Street has changed

The guideline value for K.K.Nagar 1st Sector 5th Street has undergone several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,210 per sq.ft. This value increased significantly to Rs 6,500 per sq.ft in 2012, marking a change of +437%. However, it then decreased to Rs 4,355 per sq.ft in 2017, a reduction of -33%. The 2023 revision saw a rise to Rs 6,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 7,000 per sq.ft, reflecting an increase of +8%.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by +479%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, positioning K.K.Nagar 1st Sector 5th Street above this median at Rs 7,000 per sq.ft.

Stamp duty and registration fee for property in K.K.Nagar 1st Sector 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,000 per sq.ft, the total guideline value amounts to Rs 70,00,000. The stamp duty at 7% would be Rs 4,90,000, and the registration fee at 2% would be Rs 1,40,000, bringing the total cost for these fees to Rs 6,30,000. 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 precise calculations based on your property details.

Which Sub Registrar Office covers K.K.Nagar 1st Sector 5th Street?

The K.K.Nagar 1st Sector 5th Street is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kodambakkam, as it determines the minimum price at which a property can be registered. This value is set by the government and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value serves as a reference point to ensure that the sale price is not undervalued. The authorities will charge the stamp duty based on the higher of the guideline value or the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of K.K.Nagar 1st Sector 5th Street?

The current guideline value of K.K.Nagar 1st Sector 5th Street is Rs 7,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 7,000 per sq.ft in 2024, reflecting an overall increase of +479% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 70,00,000, the total fees would amount to Rs 6,30,000.

Which office handles property registrations in K.K.Nagar?

The Ashok Nagar Sub Registrar Office handles property registrations for K.K.Nagar 1st Sector 5th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum price for property registration and is essential for calculating stamp duty and registration fees. It ensures that properties are not undervalued during transactions.