Guideline Value for KKR Nagar (Ward-18)

KKR Nagar (Ward-18) guideline value

The current guideline value of KKR Nagar (Ward-18) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village, governed by the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of KKR Nagar (Ward-18) has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. It saw a significant increase to Rs 2,000 per sq.ft in the 2023 revision, marking a rise of 33%. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, KKR Nagar (Ward-18) has experienced a total increase of 47% in its guideline value per sq.ft.

Guideline values in Madhavaram

In Madhavaram, there are 1946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing KKR Nagar (Ward-18) above this median with its 2024 figure of Rs 2,200 per sq.ft.

• K.K.R.Nagar Extn. ( Ward No.18 ): Rs 2,200 per sq.ft (2024)
• K.K.R.Nagar ( Ward No.18 ): Rs 2,200 per sq.ft (2024)
• K.K.R.Nagar: Rs 2,200 per sq.ft (2024)
• K.K.R.Garden ( Ward No.18 ): Rs 2,200 per sq.ft (2024)
• KKR Garden 9th Cross Street (Ward 18): Rs 2,200 per sq.ft (2024)
• KKR Garden 8th Cross Street (Ward 18): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in KKR Nagar (Ward-18)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers KKR Nagar (Ward-18)?

The Sub Registrar Office that covers KKR Nagar (Ward-18) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for additional details.

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

The guideline value is a crucial factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the value of the property for registration purposes, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of KKR Nagar (Ward-18)?

The current guideline value of KKR Nagar (Ward-18) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased from Rs 1,500 per sq.ft to Rs 2,200 per sq.ft in 2024, showing an overall increase of 47% over this period.

What is the land classification for KKR Nagar (Ward-18)?

KKR Nagar (Ward-18) is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in KKR Nagar (Ward-18).

How do I calculate the stamp duty for a property in KKR Nagar (Ward-18)?

To calculate the stamp duty for a property in KKR Nagar (Ward-18), you need to consider the guideline value and apply the applicable rates. For example, the stamp duty is charged at 7% of the guideline value or sale price, whichever is higher.