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Guideline Value

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Guideline Value for K.K.Nagar 8th Sector 42nd Street

₹7150/sq.ft.

The guideline value for K.k.nagar 8th Sector 42nd Street in Virugambakkam village (Virugambakkam SRO, Chennai zone) is Rs 7150 per sq.ft, effective 1 July 2024. It was Rs 6500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Virugambakkam

Village

Virugambakkam

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹7150 /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 ₹2650 /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)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[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 8th Sector 42nd Street

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K.K.Nagar 8th Sector 42nd Street guideline value

The current guideline value for K.K.Nagar 8th Sector 42nd Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the jurisdiction of the Virugambakkam SRO, and is classified as Residential Special Type - I.

How the guideline value of K.K.Nagar 8th Sector 42nd Street has changed

The guideline value for K.K.Nagar 8th Sector 42nd Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 2,650 per sq.ft. This figure increased significantly to Rs 6,500 per sq.ft in the 2012 revision, marking a rise of 145%. However, in the 2017 revision, the value decreased to Rs 4,355 per sq.ft, a drop of 33%. The value then rose again to Rs 6,500 per sq.ft in the 2023 revision, followed by a further increase to the current Rs 7,150 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 170%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

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 guideline value in this area is Rs 4,400 per sq.ft, which means that K.K.Nagar 8th Sector 42nd Street's 2024 figure is above that median.

Stamp duty and registration fee for property in K.K.Nagar 8th Sector 42nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value amounts to Rs 71,50,000. The stamp duty at 7% would be Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, totaling Rs 6,43,500. It is important to note that the 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 details.

Which Sub Registrar Office covers K.K.Nagar 8th Sector 42nd Street?

The Sub Registrar Office that covers K.K.Nagar 8th Sector 42nd Street is 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 is a crucial factor in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are recorded at a fair value.

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 means that understanding the guideline value is essential for both buyers and sellers to accurately assess their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value for K.K.Nagar 8th Sector 42nd Street?

The current guideline value for K.K.Nagar 8th Sector 42nd 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, reflecting an overall increase of 170% over these years.

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

For a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500 and the registration fee would be Rs 1,43,000, totaling Rs 6,43,500.

Which Sub Registrar Office should I contact for property transactions?

The Virugambakkam Sub Registrar Office covers K.K.Nagar 8th Sector 42nd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for K.K.Nagar 8th Sector 42nd Street?

K.K.Nagar 8th Sector 42nd Street is classified as Residential Special Type - I, indicating its intended use for residential purposes.