Guideline Value for K.R.C NAGAR

K.R.C Nagar guideline value

The current guideline value of K.R.C Nagar, located in Kayirambedu village under the Chengleput Joint II SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

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

Over the years, the guideline value for K.R.C Nagar has undergone several revisions. The 2007 revision set the value at Rs 350 per sq.ft, which increased to Rs 700 per sq.ft in 2012. However, in the 2017 revision, the value was adjusted down to Rs 469 per sq.ft, before rising again to Rs 700 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

Looking at the changes, there was a significant increase of 100% from the 2007 revision to the 2012 revision. From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 100%.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft, with the median value being Rs 700 per sq.ft. The guideline value for K.R.C Nagar aligns with this median.

• K R Garden: Rs 700 per sq.ft (2024)
• Kasiamman Nagar: Rs 700 per sq.ft (2024)
• Lumina: Rs 1,001 per sq.ft (2024)
• Madhavi Nagar: Rs 700 per sq.ft (2024)
• Mahanathi Nagar: Rs 700 per sq.ft (2024)
• Jubilee Residences: Rs 2,389 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

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

K.R.C 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 more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Kayirambedu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of K.R.C Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions showing no change from 2023 to 2024. The value increased from Rs 350 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017 before rising back to Rs 700 per sq.ft in 2023 and 2024.

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

K.R.C Nagar is classified as Residential Special Type - II, indicating its suitability for residential purposes.

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

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for K.R.C Nagar?

The Chengleput Joint II Sub Registrar Office handles registrations for K.R.C Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.