Guideline Value for K.K.R. Town East Street

K.K.R. Town East Street guideline value

The current guideline value of K.K.R. Town East 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 East Street has changed

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

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for K.K.R. Town East 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, placing K.K.R. Town East Street's 2024 figure above this median.

• K.K.R. Town East Cross Road: Rs 2,700 per sq.ft (2024)
• K.K.R. Town West Avenue Road: Rs 2,700 per sq.ft (2024)
• K.K.R. Town 9th Street: Rs 2,700 per sq.ft (2024)
• K.K.R. Town West 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 7th Street: Rs 2,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value, 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. Together, the total cost for these fees would be 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers K.K.R. Town East Street?

The K.K.R. Town East Street falls under 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 serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees, ensuring compliance with legal requirements.

Frequently asked questions

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

The current guideline value of K.K.R. Town East 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 for K.K.R. Town East Street?

K.K.R. Town East Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for properties in K.K.R. Town East Street?

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

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.