Guideline Value for K.N.B. Nagar

K.N.B. Nagar guideline value

The current guideline value of K.N.B. Nagar, located in Kovur village under the Kunrathur SRO, is Rs 1,430 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of K.N.B. Nagar has changed

The guideline value for K.N.B. Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 43 per sq.ft, which increased to Rs 150 per sq.ft in 2007. Following this, there was a substantial rise to Rs 1,300 per sq.ft in 2012, but it then decreased to Rs 871 per sq.ft in 2017. The value further increased to Rs 1,300 per sq.ft in 2023, and the latest revision in 2024 has set the value at Rs 1,430 per sq.ft. The register has no figure for the year 2002 for this street.

From 2017 to 2023, the guideline value increased by 49%, followed by a 10% rise from 2023 to 2024. The most notable increase occurred from 2007 to 2012, where it surged by 767%. Overall, from 2003 to 2024, the guideline value has increased by 3226%.

Guideline values in Kovur

Kovur village features 91 streets under the Kunrathur SRO, with 2024 guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing K.N.B. Nagar's 2024 figure below this median.

• Kilaku Madaveethi Street: Rs 1,320 per sq.ft (2024)
• Krishna Street (Suresh Nagar): Rs 1,650 per sq.ft (2024)
• Kumaran Nagar: Rs 1,320 per sq.ft (2024)
• Kanniappan Garden: Rs 1,430 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Lakshmi Nagar Extension Babu Garden 1: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in K.N.B. Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,430 per sq.ft, the guideline value would be Rs 14,30,000. The stamp duty at 7% would amount to Rs 1,00,100, while the registration fee at 2% would be Rs 28,600, bringing the total to Rs 1,28,700. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers K.N.B. Nagar?

The Sub Registrar Office that covers K.N.B. Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor during property transactions in Kovur, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to comply with legal requirements and ensure accurate documentation during the registration process.

When purchasing or selling property, the guideline value influences the calculation of stamp duty and registration fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of K.N.B. Nagar?

The current guideline value of K.N.B. Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 43 per sq.ft in 2003 to Rs 1,430 per sq.ft in 2024, showing significant changes across various revisions.

What is the median guideline value for streets in Kovur?

The median guideline value for streets in Kovur is Rs 1,650 per sq.ft, with K.N.B. Nagar's value being below this median.

What are the stamp duty and registration fees for K.N.B. Nagar?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,28,700 based on the current guideline value.

Which office handles property registrations for K.N.B. Nagar?

The Kunrathur Sub Registrar Office handles property registrations for K.N.B. Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.