Guideline Value for K.R.Puram

K.R.Puram guideline value

The current guideline value of K.R.Puram in Padappai village, under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

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

The guideline value for K.R.Puram has undergone several revisions over the years. In 2003, the value was Rs 40 per sq.ft, which increased to Rs 85 per sq.ft in 2007. The 2012 revision saw the value rise to Rs 1,200 per sq.ft, but it then dropped to Rs 804 per sq.ft in 2017. The value increased significantly to Rs 1,200 per sq.ft in 2023 and has now reached Rs 1,320 per sq.ft in the 2024 revision. The register has no figure for this street in 2002.

From 2003 to 2024, the overall increase in guideline value is 3,200%. The changes between revisions include a rise of 112.5% from 2003 to 2007, a significant increase of 1,312% from 2007 to 2012, a decrease of 33% from 2012 to 2017, a 49% increase from 2017 to 2023, and a further 10% rise from 2023 to 2024.

Guideline values in Padappai

Padappai village has a total of 146 streets under the Padappai SRO, with guideline values for 2024 ranging from Rs 440 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 830 per sq.ft, placing K.R.Puram's current value above this median.

• Kizhil Padappai (Periya Street): Rs 830 per sq.ft (2024)
• Lakshmi Nagar: Rs 990 per sq.ft (2024)
• Keelpadappai Road: Rs 1,320 per sq.ft (2024)
• Kattu Colony: Rs 830 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Mal Raja Avenue: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in K.R.Puram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers K.R.Puram?

The K.R.Puram area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Padappai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly affect the total cost of the transaction.

Frequently asked questions

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

The current guideline value of K.R.Puram is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 40 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 3,200% over this period.

What is the registration fee for property in K.R.Puram?

The registration fee for property in K.R.Puram is calculated at 2% of the guideline value or the sale price, whichever is higher.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the guideline value used during property transactions?

The guideline value is used to determine the minimum value for property registration and to calculate the stamp duty and registration fees based on the higher of the guideline value or the sale price.