Guideline Value for KUPPU REDDY NAGAR / STREETS (K.R NAGAR)

Kuppu Reddy Nagar / Streets (K.R Nagar) guideline value

The current guideline value of Kuppu Reddy Nagar / Streets (K.R Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Korattur village under the Villivakkam SRO and is classified as Residential Special Type - III.

How the guideline value of Kuppu Reddy Nagar / Streets (K.R Nagar) has changed

The guideline value for Kuppu Reddy Nagar / Streets has undergone revisions over the years. The earliest revision recorded was in 2002, but the register has no figure for this street for the years 2003, 2007, 2017, and 2023. In the 2012 revision, the guideline value was set at Rs 3,000 per sq.ft. The latest revision in 2024 raised this value to Rs 3,300 per sq.ft, marking a 10% increase from the 2012 figure.

In summary, the guideline value increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024. This reflects a significant change in the valuation for Kuppu Reddy Nagar / Streets (K.R Nagar) over the years.

Guideline values in Korattur

Korattur village has a total of 617 streets under the Villivakkam SRO, with guideline values 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, indicating that Kuppu Reddy Nagar's 2024 figure of Rs 3,300 per sq.ft is above this median.

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

Stamp duty and registration fee for property in Kuppu Reddy Nagar / Streets (K.R Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these 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.

You can use the stamp duty and registration fee calculator for more details on calculating these fees.

Which Sub Registrar Office covers Kuppu Reddy Nagar / Streets (K.R Nagar)?

The Kuppu Reddy Nagar / Streets (K.R Nagar) area is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 in property transactions in Korattur. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers and sellers must consider this value as it directly impacts the overall cost of the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kuppu Reddy Nagar?

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

What was the guideline value in 2012?

The guideline value for Kuppu Reddy Nagar in 2012 was Rs 3,000 per sq.ft.

Are there any revisions for the years 2003, 2007, 2017, and 2023?

The register has no figure for Kuppu Reddy Nagar for the years 2003, 2007, 2017, and 2023.

What is the land classification for Kuppu Reddy Nagar?

Kuppu Reddy Nagar is classified as Residential Special Type - III.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.