Guideline Value for K.R.S. Nagar

K.R.S. Nagar guideline value

The current guideline value of K.R.S. Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Residential Class I Type - II.

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

The guideline value of K.R.S. Nagar has undergone several revisions over the years. The earliest recorded revision in the register is from 2002, with a guideline value of Rs 153 per sq.ft. This increased to Rs 189 per sq.ft in 2003, marking a change of +24%. The value then rose significantly to Rs 400 per sq.ft in 2007, reflecting a substantial increase of +112%. In 2012, the guideline value dropped to Rs 2,000 per sq.ft, resulting in a decrease of -33%. The value saw a rise again in 2017, reaching Rs 1,340 per sq.ft, which was an increase of +49%. The most recent revisions show the guideline value at Rs 2,000 per sq.ft in 2023, and it has increased to Rs 2,200 per sq.ft in 2024, representing a change of +10%.

There are no figures available for K.R.S. Nagar for the years not mentioned in the revisions. Overall, from 2002 to 2024, the guideline value has increased by +1338%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with the median being Rs 3,300 per sq.ft. The guideline value for K.R.S. Nagar is below this median.

• Kulakarai 3rd Street: Rs 3,300 per sq.ft (2024)
• Kulakarai 4th Street: Rs 3,300 per sq.ft (2024)
• Kulakarai Main Road: Rs 3,300 per sq.ft (2024)
• Krishna Nagar Main Rd: Rs 4,400 per sq.ft (2024)
• Kulakkarai 1st Street: Rs 3,300 per sq.ft (2024)
• Kulakkarai 2nd Street: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers K.R.S. Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tambaram. It serves as the minimum value for which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When a buyer decides to purchase a property, the guideline value will determine the stamp duty and registration fees that need to be paid. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of K.R.S. Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 153 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +1338% over the years.

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

K.R.S. Nagar is classified as Residential Class I Type - II under the current land classification system.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office do I contact for registration in K.R.S. Nagar?

The Tambaram Joint 1 Sub Registrar Office is responsible for registrations in K.R.S. Nagar, located at No.26, mes Road, East Tambaram, Chennai-600059.