Guideline Value for K.R. Nagar

K.R. Nagar guideline value

The current guideline value of K.R. Nagar, located in Konnur village under the Konnur SRO, is Rs 3,800 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

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

The guideline value for K.R. Nagar has seen several revisions over the years. Starting from Rs 288 per sq.ft in 2002, it increased to Rs 313 per sq.ft in 2003. The value then rose significantly to Rs 700 per sq.ft in 2007, followed by a decrease to Rs 3,500 per sq.ft in 2012. The value experienced a notable increase to Rs 2,345 per sq.ft in 2017, and further increased to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 3,800 per sq.ft, marking a 9% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value rose by 49%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 revision experienced a substantial increase of 400%. The value increased by 124% from 2003 to 2007, and by 9% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1219%. There are no figures available for the years not mentioned in this register for K.R. Nagar.

Guideline values in Konnur

Konnur village has 249 streets under the Konnur SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, which is equal to the current value of K.R. Nagar.

• Kulakkari Street: Rs 3,800 per sq.ft (2024)
• Kosa Street (South Mada St/Therkku Mada St): Rs 5,500 per sq.ft (2024)
• K.K. Nagar: Rs 3,800 per sq.ft (2024)
• Kilakkumadaveethi Extension: Rs 5,500 per sq.ft (2024)
• Kilakkumadaveethi: Rs 5,500 per sq.ft (2024)
• Kilakku Kolathur Main Road - I (Railway Gate to Muslim Burial Ground): Rs 5,500 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 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total cost for these fees to Rs 3,42,000. 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 these 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 jurisdiction of the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is an essential factor in property transactions within Konnur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring transparency in property transactions.

When registering a property, the guideline value helps establish a fair basis for the transaction, providing a standardized approach to property valuation. This ensures that both parties are aware of the financial implications involved in the buying or selling process.

Frequently asked questions

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

The current guideline value of K.R. Nagar is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 288 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, with various revisions occurring in between.

What is the median guideline value for streets in Konnur?

The median guideline value for streets in Konnur is Rs 3,800 per sq.ft, which is the same as the current guideline value for K.R. Nagar.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,42,000.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.