Guideline Value for K.M. Nagar

K.M. Nagar guideline value

The current guideline value of K.M. Nagar, located in Kodungaiyur village under the Madhavaram SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

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

In the 2012 revision, the guideline value for K.M. Nagar was Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that the register has no figures for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of K.M. Nagar.

• K.M.C. Garden: Rs 2,700 per sq.ft (2024)
• K.M.A. Garden: Rs 2,700 per sq.ft (2024)
• Kodungaiyur Industrial Estate: Rs 2,800 per sq.ft (2024)
• Koil Street (R.V. Nagar): Rs 2,700 per sq.ft (2024)
• K.K. Nagar: Rs 2,700 per sq.ft (2024)
• K.K.D. Nagar 8th Block 6th Lane 10th Main Road: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, charged at 7%, would be Rs 1,89,000, while 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 also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers K.M. Nagar?

The K.M. Nagar area falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more details, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Kodungaiyur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of K.M. Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for K.M. Nagar was Rs 2,500 per sq.ft in 2012 and remained the same in 2023. It increased to Rs 2,700 per sq.ft in 2024, marking an 8% rise from the previous year.

What is the land classification for K.M. Nagar?

K.M. Nagar falls under the Residential Class I Type - I land classification.

Where can I find the Madhavaram Sub Registrar Office?

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

How is stamp duty calculated for property in K.M. Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.