Guideline Value for K.K.R. Town 2nd Street

K.K.R. Town 2nd Street guideline value

The current guideline value of K.K.R. Town 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Jampuli village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of K.K.R. Town 2nd Street has changed

The guideline value for K.K.R. Town 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then changed to Rs 1,675 per sq.ft in 2017, marking a decrease of 16%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, showing an increase of 8% from the previous year.

There are no figures available in the register for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 35%.

Guideline values in Jampuli

In Jampuli village, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,450 per sq.ft, positioning K.K.R. Town 2nd Street's 2024 figure above that median.

• K.K.R. Town 2nd Main Road: Rs 2,700 per sq.ft (2024)
• K.K.R. Town 3rd Main Road: Rs 2,700 per sq.ft (2024)
• K.K.R. Town 1st Street: Rs 2,700 per sq.ft (2024)
• K.K.R. Town 3rd Street: Rs 2,700 per sq.ft (2024)
• K.K.R. Town 1st Main Road: Rs 2,700 per sq.ft (2024)
• K.K.R. Town 4th Main Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in K.K.R. Town 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers K.K.R. Town 2nd Street?

The K.K.R. Town 2nd Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Jampuli. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction is documented at a value that reflects the official pricing set by the registration department. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of K.K.R. Town 2nd Street?

The current guideline value of K.K.R. Town 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for K.K.R. Town 2nd Street?

K.K.R. Town 2nd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions here?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total fee of Rs 2,43,000.

Which office handles registrations for K.K.R. Town 2nd Street?

The Madhavaram Sub Registrar Office handles registrations for K.K.R. Town 2nd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.