Guideline Value for K.P.R. NAGAR

K.P.R. Nagar guideline value

The current guideline value of K.P.R. Nagar, located in Korattur village under the Villivakkam SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

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

The guideline value of K.P.R. Nagar has experienced several revisions over the years. Starting from the 2002 revision, the value was set at Rs 124 per sq.ft. This increased significantly to Rs 250 per sq.ft in 2007, marking a change of +102%. The value then rose dramatically to Rs 1,200 per sq.ft in 2012, reflecting an increase of +380%. The 2023 revision maintained the value at Rs 1,200 per sq.ft, with no changes recorded for this street in 2017 and 2003. The most recent revision in 2024 has set the guideline value at Rs 1,300 per sq.ft, which is an increase of +8% from the previous year.

Overall, the guideline value for K.P.R. Nagar has seen a substantial increase of +948% from the 2002 figure to the current 2024 value. This highlights the significant changes in property valuation within this locality over the years.

Guideline values in Korattur

In Korattur, a total of 617 streets fall under the Villivakkam SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, positioning K.P.R. Nagar's current value below this median.

• Krishnamachari Naidu Street: Rs 1,600 per sq.ft (2024)
• Krishnan Nagar: Rs 1,600 per sq.ft (2024)
• K.S.Nagar: Rs 1,600 per sq.ft (2024)
• Kesava Avenue: Rs 2,100 per sq.ft (2024)
• Kumaran Nagar Extn: Rs 2,700 per sq.ft (2024)
• Kumarasamy Colony: Rs 2,100 per sq.ft (2024)

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

For a property in K.P.R. Nagar, a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the 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.P.R. Nagar?

The Sub Registrar Office that covers K.P.R. Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process for property transactions in Korattur. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation set by the authorities.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the financial aspects of property transactions. Accurate knowledge of these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

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

The current guideline value of K.P.R. Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 124 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, marking an overall increase of +948% over the years.

What is the land classification for K.P.R. Nagar?

K.P.R. Nagar is classified as Residential Class IV Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for a property in K.P.R. Nagar?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

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

K.P.R. Nagar is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.