Guideline Value for K.K.R. Town 7th Street

K.K.R. Town 7th Street guideline value

The current guideline value of K.K.R. Town 7th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Jampuli village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of K.K.R. Town 7th Street has changed

The guideline value for K.K.R. Town 7th Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017. However, from 2017 to 2023, the value significantly increased to Rs 2,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 saw the guideline value increase by 8% to Rs 2,700 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register 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 that have a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft, with a median value of Rs 2,450 per sq.ft. K.K.R. Town 7th Street's 2024 guideline value is above this median.

• K.K.R. Town 6th Street: Rs 2,700 per sq.ft (2024)
• K.K.R. Town 8th Street: Rs 2,700 per sq.ft (2024)
• K.K.R. Town 5th Street: Rs 2,700 per sq.ft (2024)
• K.K.R. Town 9th 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 East Cross Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in K.K.R. Town 7th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the 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 duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers K.K.R. Town 7th Street?

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

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

The guideline value is a critical factor during the registration process when buying or selling property in Jampuli. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented accurately.

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

Frequently asked questions

What is the current guideline value of K.K.R. Town 7th Street?

The current guideline value of K.K.R. Town 7th 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 land classification of K.K.R. Town 7th Street?

K.K.R. Town 7th Street is classified as Residential Class I Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for a property in K.K.R. Town 7th Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for K.K.R. Town 7th Street?

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