Guideline Value for Almighty Nagar

Almighty Nagar guideline value

The current guideline value for Almighty Nagar, located in Kilkattalai village under the Pallavaram SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Almighty Nagar has changed

The guideline value for Almighty Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 134 per sq.ft, which increased to Rs 300 per sq.ft in 2007. This was a significant rise of 124%. Following this, the value surged to Rs 1,800 per sq.ft in 2012, marking a dramatic increase of 500%. However, it then decreased to Rs 1,206 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase again to Rs 1,800 per sq.ft in 2023, and finally, it reached Rs 1,980 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1,378%. The register does not provide a figure for the year 2002 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft, with a median value of Rs 2,530 per sq.ft. The guideline value for Almighty Nagar is below this median.

• Alandur Main Road: Rs 4,125 per sq.ft (2024)
• Alamelumangapuram,1 To 3 Streets: Rs 4,125 per sq.ft (2024)
• Alamelumangapuram 1st M.Road: Rs 4,125 per sq.ft (2024)
• Alamelumangapuram: Rs 4,125 per sq.ft (2024)
• Ambal Nagar 1 To 24 Streets: Rs 4,125 per sq.ft (2024)
• Ambal Nagar Extension: Rs 4,125 per sq.ft (2024)

Stamp duty and registration fee for property in Almighty Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. 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.

Which Sub Registrar Office covers Almighty Nagar?

The Sub Registrar Office that covers Almighty Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Kilkattalai. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official value assigned to the property.

It is crucial for buyers and sellers to be aware of the guideline value, as it influences the overall cost of the transaction. The registration office will rely on this value to assess the fees due, which can significantly impact the financial aspects of property dealings.

Frequently asked questions

What is the current guideline value of Almighty Nagar?

The current guideline value of Almighty Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 134 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 1,378% over this period.

What is the land classification for Almighty Nagar?

Almighty Nagar is classified as Residential Class II Type - I.

Where is the Sub Registrar Office for Almighty Nagar located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Almighty Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 at a rate of 7%.