Guideline Value for K.K.Nagar 7th Sector 36th Street

K.K.Nagar 7th Sector 36th Street guideline value

The current guideline value of K.K.Nagar 7th Sector 36th Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village and falls under the Virugambakkam Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - I.

How the guideline value of K.K.Nagar 7th Sector 36th Street has changed

The guideline value for K.K.Nagar 7th Sector 36th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 2,650 per sq.ft. This figure increased significantly to Rs 6,500 per sq.ft in 2012, marking a 145% rise. However, the value dropped to Rs 4,355 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 saw the value rise to Rs 6,500 per sq.ft, and the latest revision in 2024 has set the value at Rs 7,150 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 170%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, and K.K.Nagar 7th Sector 36th Street's 2024 figure is above this median.

• K.K.Nagar 7th Sector 35th Street: Rs 7,150 per sq.ft (2024)
• K.K.Nagar 7th Sector 37th Street: Rs 7,150 per sq.ft (2024)
• K.K.Nagar 7th Sector 34th Street: Rs 7,150 per sq.ft (2024)
• K.K.Nagar 7th Sector 38th Street: Rs 7,150 per sq.ft (2024)
• K.K.Nagar 7th Sector 33rd Street: Rs 7,150 per sq.ft (2024)
• K.K.Nagar 8th Sector 39th Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in K.K.Nagar 7th Sector 36th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000. Together, the total cost for these fees would be Rs 6,43,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.K.Nagar 7th Sector 36th Street?

K.K.Nagar 7th Sector 36th Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Virugambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate fees based on the property's value.

Frequently asked questions

What is the current guideline value of K.K.Nagar 7th Sector 36th Street?

The current guideline value of K.K.Nagar 7th Sector 36th Street is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,650 per sq.ft in 2007 to Rs 7,150 per sq.ft in 2024, representing a total increase of 170% over the years.

What were the guideline values in previous revisions?

The guideline values for previous revisions are as follows: Rs 6,500 per sq.ft in 2012, Rs 4,355 per sq.ft in 2017, and Rs 6,500 per sq.ft in 2023.

What is the median guideline value for streets in Virugambakkam?

The median guideline value for streets in Virugambakkam is Rs 4,400 per sq.ft, which is lower than the current value of K.K.Nagar 7th Sector 36th Street.

Where can I find the Sub Registrar Office for K.K.Nagar 7th Sector 36th Street?

The Sub Registrar Office covering K.K.Nagar 7th Sector 36th Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.