Guideline Value for K.M.R. Nagar

K.M.R. Nagar guideline value

The current guideline value of K.M.R. Nagar, located in Atanancheri village under the Gooduvancheri SRO, is Rs 800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

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

Over the years, the guideline value for K.M.R. Nagar has seen several revisions. The 2007 revision set the value at Rs 160 per sq.ft, which increased to Rs 800 per sq.ft in the 2012 revision, marking a significant rise of 400%. However, the 2017 revision saw a decrease to Rs 536 per sq.ft, a drop of 33%. The value then increased to Rs 800 per sq.ft in the 2023 revision, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, there has been a 400% increase. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Atanancheri

Atanancheri village has a total of 83 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, placing K.M.R. Nagar's 2024 figure above this median.

• Karumari Amman Nagar: Rs 500 per sq.ft (2024)
• Kumaran Nagar (Survey No.135/5): Rs 1,000 per sq.ft (2024)
• Kannappa Nagar: Rs 800 per sq.ft (2024)
• Kannan Nagar: Rs 700 per sq.ft (2024)
• Lakshmi Nagar: Rs 600 per sq.ft (2024)
• Kamatchi Amman Nagar: Rs 800 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty, charged at 7%, would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total fees to Rs 72,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

K.M.R. Nagar falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Atanancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When a property is sold, the buyer and seller must consider the guideline value for calculating applicable fees, such as stamp duty and registration fees. This ensures that the transaction is officially recognized and legally binding.

Frequently asked questions

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

The current guideline value of K.M.R. Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 maintaining the value at Rs 800 per sq.ft, which was also the value in 2023. The value saw a significant increase from Rs 160 in 2007 to Rs 800 in 2012, but dropped to Rs 536 in 2017.

What are the other streets in Atanancheri and their guideline values?

Other streets in Atanancheri include Karumari Amman Nagar at Rs 500 per sq.ft, Kumaran Nagar at Rs 1,000 per sq.ft, and Kannappa Nagar at Rs 800 per sq.ft, among others. The guideline values for these streets vary, contributing to the overall property landscape in the village.

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

Stamp duty for properties in K.M.R. Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 8,00,000, the stamp duty would be Rs 56,000 at 7%.

Where can I find the Sub Registrar Office for K.M.R. Nagar?

The Sub Registrar Office covering K.M.R. Nagar is the Gooduvancheri SRO, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.