Guideline Value for KUPPU REDDY NAGAR 'JANAKIRAMAN STREET'

Kuppu Reddy Nagar 'janakiraman Street' guideline value

The current guideline value of Kuppu Reddy Nagar 'janakiraman Street' is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Kuppu Reddy Nagar 'janakiraman Street' has changed

The guideline value for Kuppu Reddy Nagar 'janakiraman Street' has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. However, from 2017 to 2024, the value increased significantly to Rs 3,300 per sq.ft, marking a 64% rise. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street. The changes between the revisions highlight the fluctuations in the guideline value over the years.

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 guideline value in this area is Rs 2,500 per sq.ft, placing Kuppu Reddy Nagar 'janakiraman Street' above this median.

• Kuppu Reddy Nagar 'govindasamy Street': Rs 3,300 per sq.ft (2024)
• Kuppu Reddy Nagar 'nagammal Street': Rs 3,300 per sq.ft (2024)
• Kuppu Reddy Nagar 'govinda Reddy Street': Rs 3,300 per sq.ft (2024)
• Kuppu Reddy Nagar 'reddy Street': Rs 3,300 per sq.ft (2024)
• Kuppu Reddy Nagar 'devadoss Street': Rs 3,300 per sq.ft (2024)
• Kuppu Reddy Nagar / Streets (K.R Nagar): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kuppu Reddy Nagar 'janakiraman Street'

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kuppu Reddy Nagar 'janakiraman Street'?

The Sub Registrar Office that covers Kuppu Reddy Nagar 'janakiraman Street' is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for additional details.

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

The guideline value is a crucial factor when buying or selling property in Korattur. It serves as a reference point for determining the applicable stamp duty and registration fees during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value helps in assessing the official value of the property, which is essential for taxation purposes. It ensures that the transaction is recorded accurately in the public registry, providing transparency and legal validity.

Frequently asked questions

What is the current guideline value of Kuppu Reddy Nagar 'janakiraman Street'?

The current guideline value of Kuppu Reddy Nagar 'janakiraman Street' is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,300 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a 10% increase.

What is the land classification for Kuppu Reddy Nagar 'janakiraman Street'?

The land classification for Kuppu Reddy Nagar 'janakiraman Street' is Residential Special Type - III.

Which office handles registrations for Kuppu Reddy Nagar 'janakiraman Street'?

The Villivakkam Sub Registrar Office handles registrations for Kuppu Reddy Nagar 'janakiraman Street'. The office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for property transactions?

The 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 33,00,000, the stamp duty at 7% would be Rs 2,31,000.