Guideline Value for K.K.R. Nagar

K.K.R. Nagar guideline value

The current guideline value of K.K.R. Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This locality is situated in Erivakkam village under the Gooduvancheri SRO, classified as Residential Special Type - II.

How the guideline value of K.K.R. Nagar has changed

The guideline value for K.K.R. Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 100 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2012, marking a 300% rise. However, in 2017, the value dropped to Rs 268 per sq.ft, a decrease of 33%. The value then rose again to Rs 400 per sq.ft in 2023 and has remained the same in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 400 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 300%. It is important to note that the register has no figures for K.K.R. Nagar for the years 2002 and 2003.

Guideline values in Erivakkam

In Erivakkam, there are 19 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,000 per sq.ft, with the median being Rs 400 per sq.ft. K.K.R. Nagar's 2024 figure aligns with this median value.

• K.K.R Nagar Annex-II: Rs 300 per sq.ft (2024)
• Keerthana Nagar: Rs 300 per sq.ft (2024)
• Kousalya Nagar Phase III: Rs 700 per sq.ft (2024)
• Kowsalya Nagar: Rs 400 per sq.ft (2024)
• Kowsalya Nagar Phase-I: Rs 400 per sq.ft (2024)
• Krishna Nagar: Rs 400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, while the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. 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.R. Nagar?

K.K.R. Nagar falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Erivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of K.K.R. Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and returned to Rs 400 per sq.ft in both 2023 and 2024.

What is the land classification of K.K.R. Nagar?

K.K.R. Nagar is classified as Residential Special Type - II.

What are the stamp duty and registration fees for properties in K.K.R. Nagar?

For a property valued at Rs 4,00,000, the stamp duty is Rs 28,000 and the registration fee is Rs 8,000, totaling Rs 36,000.

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

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.