Guideline Value for K.S.Nagar

K.S.Nagar guideline value

The current guideline value of K.S.Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the jurisdiction of the Villivakkam SRO. The land classification for this street is Residential Class III Type - III.

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

The guideline value for K.S.Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, representing a 49% rise. The most recent revision in 2024 has further increased the value to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, indicating that K.S.Nagar's 2024 figure is below that median.

• Krishnan Nagar: Rs 1,600 per sq.ft (2024)
• Krishnamachari Naidu Street: Rs 1,600 per sq.ft (2024)
• K.P.R. Nagar: Rs 1,300 per sq.ft (2024)
• Kumaran Nagar Extn: Rs 2,700 per sq.ft (2024)
• Kumarasamy Colony: Rs 2,100 per sq.ft (2024)
• Kuppu Reddy Nagar 'devadoss Street': Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total charges Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers K.S.Nagar?

K.S.Nagar falls under the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

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

The current guideline value of K.S.Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

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

K.S.Nagar is classified as Residential Class III Type - III, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for K.S.Nagar?

The Sub Registrar Office covering K.S.Nagar is the Villivakkam SRO, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in K.S.Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 16,00,000, the stamp duty at 7% would be Rs 1,12,000.