Guideline Value for KK Nagar

KK Nagar guideline value

The current guideline value of KK Nagar, located in Perampakkam village under the Perambakkam SRO, is Rs 350 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of KK Nagar has changed

The guideline value for KK Nagar has undergone several revisions over the years. In 2007, the value was Rs 3,00,000 per sq.ft. This figure was revised to Rs 350 per sq.ft in 2012, marking a significant decrease of 100%. The value then remained at Rs 350 per sq.ft until the next revision in 2017, which increased it to Rs 234 per sq.ft, representing a decrease of 33%. Following this, the value rose by 50% to Rs 350 per sq.ft in 2023, and it has remained the same through the 2024 revision.

The revisions for the years 2002 and 2003 do not have any figures listed in the register for this street.

Guideline values in Perampakkam

In Perampakkam, there are 20 streets that carry a 2024 guideline value, ranging from Rs 200 to Rs 500 per sq.ft. The median value is Rs 350 per sq.ft, which is equal to the current guideline value of KK Nagar.

• Kavarai St (Chetti St): Rs 350 per sq.ft (2024)
• Kammar St (Naidu St): Rs 400 per sq.ft (2024)
• Jothi Ramalingam Nagar: Rs 350 per sq.ft (2024)
• MGR Nagar: Rs 350 per sq.ft (2024)
• Hospital Road: Rs 400 per sq.ft (2024)
• Mudaliar St: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in KK Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, totaling Rs 31,500. 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 KK Nagar?

The Sub Registrar Office covering KK Nagar is the Perambakkam Sub Registrar Office, located at Jothi Ramalinga Nagar, Near Post Office, Perambakkam, 631402, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perampakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly impacts the stamp duty and registration fees payable at the time of registration.

When registering a property, the guideline value serves as a benchmark for calculating the applicable charges. It ensures that the government receives appropriate revenue from property transactions, reflecting the official valuation of the property in the area.

Frequently asked questions

What is the current guideline value of KK Nagar?

The current guideline value of KK Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, dropping from Rs 3,00,000 per sq.ft in 2007 to Rs 350 per sq.ft in 2012, and then fluctuating until it reached the current value in 2024.

What are the other streets in Perampakkam with similar guideline values?

Other streets in Perampakkam have guideline values ranging from Rs 200 to Rs 500 per sq.ft, with several streets, including KK Nagar, having a value of Rs 350 per sq.ft.

What is the stamp duty rate for property in KK Nagar?

The stamp duty rate for property transactions in KK Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for KK Nagar located?

The Sub Registrar Office for KK Nagar is located at Jothi Ramalinga Nagar, Near Post Office, Perambakkam, 631402, Chennai registration zone.