Guideline Value for K.R. Nagar

K.R. Nagar guideline value

The current guideline value of K.R. Nagar is Rs 1,950 per sq.ft, effective from 1 July 2024. This property is located in Vallam_B village under the Sriperumpudur SRO and falls under the Mixed Type - I land classification.

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

Over the years, the guideline value of K.R. Nagar has seen significant changes. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 500 per sq.ft, which increased to Rs 1,950 per sq.ft in the 2024 revision, marking a change of +290%.

The 2024 revision reflects a substantial increase from the previous year, which was Rs 500 per sq.ft in 2023. This dramatic rise indicates a notable adjustment in the valuation of properties in this area.

Guideline values in Vallam_B

In Vallam_B, there are 73 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,950 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, positioning K.R. Nagar's 2024 figure above this median.

• Kavery Nagar: Rs 400 per sq.ft (2024)
• Little Farms: Rs 200 per sq.ft (2024)
• Madha Koil Street: Rs 200 per sq.ft (2024)
• Kamarajar Street: Rs 400 per sq.ft (2024)
• Kamachi Nagar: Rs 200 per sq.ft (2024)
• Mariyamman Koil Street: Rs 200 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 1,950 per sq.ft, the total guideline value would be Rs 19,50,000. The stamp duty at 7% would amount to Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total fees to Rs 1,75,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vallam_B. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and consistency in property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for completing the sale. This helps to maintain a standardized approach to property valuation across the region.

Frequently asked questions

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

The current guideline value of K.R. Nagar is Rs 1,950 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 500 per sq.ft in 2023 to Rs 1,950 per sq.ft in 2024, which is a change of +290%.

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

K.R. Nagar is classified as Mixed Type - I land, which indicates its suitability for various types of development.

Which office handles registrations for K.R. Nagar?

The Sriperumpudur Sub Registrar Office handles registrations for K.R. Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu.

How is the stamp duty calculated in K.R. Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,36,500.