Guideline Value for K.K.Nagar

K.K.Nagar guideline value

The current guideline value of K.K.Nagar, located in Melamaiyur village under the Chengleput Joint I SRO, is Rs 825 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

The guideline value for K.K.Nagar has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 333 per sq.ft, which increased significantly to Rs 750 per sq.ft in 2012, marking a 125% rise. However, it then decreased to Rs 502 per sq.ft in 2017, reflecting a 33% drop. The value continued to increase, reaching Rs 750 per sq.ft in the 2023 revision, and finally rising to Rs 825 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 148%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Melamaiyur

In Melamaiyur village, there are 37 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 3,000 per sq.ft, with a median value of Rs 1,212 per sq.ft. The guideline value of K.K.Nagar is below this median.

• Kanthavelu Nagar: Rs 1,322 per sq.ft (2024)
• Kannan Nagar: Rs 990 per sq.ft (2024)
• Kanagasundaram Nagar: Rs 825 per sq.ft (2024)
• Lake Avenue: Rs 1,322 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,212 per sq.ft (2024)
• Manickam Nagar: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in K.K.Nagar

For a property in K.K.Nagar measuring 1,000 sq.ft at the current guideline value of Rs 825 per sq.ft, the total guideline value would be Rs 8,25,000. The stamp duty at 7% would amount to Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total fees to Rs 74,250. 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?

The K.K.Nagar area is covered by the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the 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 Melamaiyur

The guideline value is a critical factor when registering property transactions in Melamaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees. Buyers should be aware that the stamp duty and registration fees are based on the guideline value or the sale price, whichever is higher, ensuring transparency in property transactions.

Frequently asked questions

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

The current guideline value of K.K.Nagar is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 333 per sq.ft to Rs 825 per sq.ft in 2024, reflecting an overall increase of 148% over the years.

What are the other streets in Melamaiyur with their guideline values?

Other streets in Melamaiyur include Kanthavelu Nagar at Rs 1,322 per sq.ft, Kannan Nagar at Rs 990 per sq.ft, and Kanagasundaram Nagar at Rs 825 per sq.ft, among others.

What is the stamp duty rate for property in K.K.Nagar?

The stamp duty rate for property in K.K.Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for K.K.Nagar located?

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