Guideline Value for K.K.Nagar 11th Sector 71st Street

K.K.Nagar 11th Sector 71st Street guideline value

The current guideline value for K.K.Nagar 11th Sector 71st Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village under the Virugambakkam SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of K.K.Nagar 11th Sector 71st Street has changed

The guideline value for K.K.Nagar 11th Sector 71st Street has seen several revisions over the years. In 2007, the value was Rs 2,650 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012, marking a 145% rise. However, in 2017, the value dropped to Rs 4,355 per sq.ft, reflecting a decrease of 33%. The guideline value then rose to Rs 6,500 per sq.ft in 2023, and further increased to the current rate of Rs 7,150 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 170%. It is important to note that there are no figures available for the revisions in 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, with a median value of Rs 4,400 per sq.ft. The guideline value for K.K.Nagar 11th Sector 71st Street is above this median, indicating its relative position within the village.

• K.K.Nagar 11th Sector 70th Street: Rs 7,150 per sq.ft (2024)
• K.K.Nagar 11th Sector 72nd Street: Rs 7,150 per sq.ft (2024)
• K.K.Nagar 11th Sector 69th Street: Rs 7,150 per sq.ft (2024)
• K.K.Nagar 12th Sector 73rd Street: Rs 7,150 per sq.ft (2024)
• K.K.Nagar 11th Sector 68th Street: Rs 7,150 per sq.ft (2024)
• K.K.Nagar 12th Sector 74th Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in K.K.Nagar 11th Sector 71st 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, leading to a total of 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.K.Nagar 11th Sector 71st Street?

The K.K.Nagar 11th Sector 71st Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value impacts the stamp duty and registration fees that need to be paid. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of K.K.Nagar 11th Sector 71st Street?

The current guideline value of K.K.Nagar 11th Sector 71st 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 the years.

What is the land classification for K.K.Nagar 11th Sector 71st Street?

K.K.Nagar 11th Sector 71st Street is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for K.K.Nagar 11th Sector 71st Street?

The Sub Registrar Office for K.K.Nagar 11th Sector 71st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for property in K.K.Nagar 11th Sector 71st Street?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 5,00,500.