Guideline Value for K.R. NAGAR

K.R. Nagar guideline value

The current guideline value of K.R. Nagar, located in Mamandoor village under the Chengleput Joint II SRO, is Rs 800 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Special Type - I.

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

According to the guideline value register, there are no figures available for K.R. Nagar for the years 2002, 2003, 2007, 2012, and 2017. The revisions that do have figures are from 2023 and 2024, both of which are set at Rs 800 per sq.ft, indicating no change between these two years, resulting in a +0% change from 2023 to 2024.

The 2024 revision shows that K.R. Nagar's guideline value remains consistent with the previous year's figure. This stability in the guideline value reflects a steady assessment of property values in the area over the last two years.

Guideline values in Mamandoor

Mamandoor village has 41 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 1,200 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for K.R. Nagar is above this median, indicating a higher valuation compared to many other streets in the village.

• K.R. Nagar Extn: Rs 800 per sq.ft (2024)
• Magalakshminagar Phase-I,Phase-II,Phase-III: Rs 500 per sq.ft (2024)
• Maruthamalai M.T.C Nagar: Rs 500 per sq.ft (2024)
• Jayam Nagar: Rs 800 per sq.ft (2024)
• M.M.Nagar: Rs 800 per sq.ft (2024)
• Iyappan Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in K.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 at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total cost for these fees to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.R. Nagar?

K.R. Nagar falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for additional assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Mamandoor. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This is particularly important for legal documentation and compliance with local regulations during the transaction process.

Frequently asked questions

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

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

How has the guideline value changed over the years?

There have been no figures available for K.R. Nagar in the years 2002, 2003, 2007, 2012, and 2017. The guideline values for 2023 and 2024 are both Rs 800 per sq.ft, indicating no change between these two revisions.

What is the land classification of K.R. Nagar?

K.R. Nagar is classified as Residential Special Type - I, which indicates the type of development and usage permitted in the area.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 8,00,000, the total fees would amount to Rs 72,000.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can also find your SRO through the provided link.