Guideline Value for K.M.K.NAGAR

K.M.K.Nagar guideline value

The current guideline value of K.M.K.Nagar, located in Manancheri village under the Kunrathur SRO, is Rs 990 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.K.Nagar has changed

The guideline value of K.M.K.Nagar has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a rise of 260%. However, from 2012 to 2017, the value decreased to Rs 603 per sq.ft, a decline of 33%. The value then surged to Rs 900 per sq.ft in 2023, reflecting a 49% increase, and further rose to Rs 990 per sq.ft in 2024, which is a 10% increase.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 296%.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,400 per sq.ft. The median value is Rs 990 per sq.ft, which aligns with the current guideline value of K.M.K.Nagar.

• Kundrathur Garden Phase III: Rs 990 per sq.ft (2024)
• Lakshmi Nagar: Rs 990 per sq.ft (2024)
• Kalyani Nagar Part II: Rs 1,320 per sq.ft (2024)
• Manancherri Colony: Rs 990 per sq.ft (2024)
• Manancherri Main Road: Rs 1,320 per sq.ft (2024)
• Mayana salai: Rs 990 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty would be calculated at 7%, amounting to Rs 69,300, while the registration fee at 2% would be Rs 19,800. Together, these fees would total Rs 89,100. It is important to note that 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 details.

Which Sub Registrar Office covers K.M.K.Nagar?

The K.M.K.Nagar area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical component in the registration process of property transactions in Manancheri. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When a buyer or seller engages in a transaction, the guideline value ensures that the property is registered at a value that reflects the current market conditions as determined by the government. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

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

The current guideline value of K.M.K.Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting a total increase of 296% over this period.

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

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

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 89,100.