Guideline Value for K.K.R. Town 6th Street

K.K.R. Town 6th Street guideline value

The current guideline value of K.K.R. Town 6th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Jampuli village under the Madhavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of K.K.R. Town 6th Street has changed

The guideline value for K.K.R. Town 6th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, there was a significant increase to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 raised it to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 35%. There are no registered figures for K.K.R. Town 6th Street in the years 2002, 2003, and 2007.

Guideline values in Jampuli

In Jampuli village, there are 118 streets under the Madhavaram SRO that have 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, placing K.K.R. Town 6th Street's 2024 figure above that median.

• K.K.R. Town 5th Street: Rs 2,700 per sq.ft (2024)
• K.K.R. Town 7th Street: Rs 2,700 per sq.ft (2024)
• K.K.R. Town 5th Main Road: Rs 2,700 per sq.ft (2024)
• K.K.R. Town 8th Street: Rs 2,700 per sq.ft (2024)
• K.K.R. Town 4th Street: Rs 2,700 per sq.ft (2024)
• K.K.R. Town 9th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in K.K.R. Town 6th 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, bringing the total fees together to 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 accurate calculations.

Which Sub Registrar Office covers K.K.R. Town 6th Street?

The K.K.R. Town 6th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Jampuli. It serves as a basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the government.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are compliant with local regulations and that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of K.K.R. Town 6th Street?

The current guideline value of K.K.R. Town 6th 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 increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the median guideline value in Jampuli?

The median guideline value for streets in Jampuli is Rs 2,450 per sq.ft, which is below the current guideline value of K.K.R. Town 6th Street.

What are the stamp duty and registration fees for property in K.K.R. Town 6th Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.

Which office handles registrations for K.K.R. Town 6th Street?

The Madhavaram Sub Registrar Office handles registrations for K.K.R. Town 6th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.