Guideline Value for Dr. Khanu Nagar 1st Street

Dr. Khanu Nagar 1st Street guideline value

The current guideline value of Dr. Khanu Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Dr. Khanu Nagar 1st Street has changed

The guideline value for Dr. Khanu Nagar 1st Street has undergone several revisions over the years. The earliest recorded revision is from 2012, which set the value at Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 has raised it to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no recorded guideline values for Dr. Khanu Nagar 1st Street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Nesapakkam

Nesapakkam has a total of 148 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Dr. Khanu Nagar 1st Street's 2024 figure below that median.

• Dr. Khanu Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 12th Street: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Khanu Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. 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 Dr. Khanu Nagar 1st Street?

The Sub Registrar Office that covers Dr. Khanu Nagar 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nesapakkam. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for property transactions.

Frequently asked questions

What is the current guideline value of Dr. Khanu Nagar 1st Street?

The current guideline value of Dr. Khanu Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Dr. Khanu Nagar 1st Street?

Dr. Khanu Nagar 1st Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office covers Dr. Khanu Nagar 1st Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.