Guideline Value for K.P.Nagar Ist Cross Street

K.P.Nagar Ist Cross Street guideline value

The current guideline value of K.P.Nagar Ist Cross Street is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of K.P.Nagar Ist Cross Street has changed

The guideline value for K.P.Nagar Ist Cross Street has seen several revisions over the years. In 2012, the value was Rs 2,800 per sq.ft, which then decreased to Rs 1,876 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,800 per sq.ft in 2023, and then rose again to Rs 3,100 per sq.ft in the 2024 revision, marking an 11% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 11%. The changes between revisions include a 49% increase from 2017 to 2023, and a 33% decrease from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, which is equal to the guideline value of K.P.Nagar Ist Cross Street.

• K.P.Nagar 2nd Street: Rs 3,100 per sq.ft (2024)
• K.P.Nagar Ist Street: Rs 3,100 per sq.ft (2024)
• K.P.Nagar 2nd Cross Street: Rs 3,100 per sq.ft (2024)
• K.P.Nagar: Rs 3,550 per sq.ft (2024)
• Kothari Nagar New Street: Rs 4,400 per sq.ft (2024)
• KOTHARI NAGAR Annex: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in K.P.Nagar Ist Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value would be Rs 31,00,000. The stamp duty at 7% would amount to Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total to Rs 2,79,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers K.P.Nagar Ist Cross Street?

The K.P.Nagar Ist Cross Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is in line with government regulations.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. It is essential for both buyers and sellers to be aware of the current guideline value to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of K.P.Nagar Ist Cross Street?

The current guideline value of K.P.Nagar Ist Cross Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What is the land classification of K.P.Nagar Ist Cross Street?

The land classification for K.P.Nagar Ist Cross Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for K.P.Nagar Ist Cross Street?

The Sub Registrar Office covering K.P.Nagar Ist Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in K.P.Nagar Ist Cross Street?

Stamp duty is 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 guideline value would be Rs 31,00,000, leading to a stamp duty of Rs 2,17,000.