Guideline Value for K.G.L. NAGAR

K.G.L. Nagar guideline value

The current guideline value of K.G.L. Nagar, located in Kadappakkam village under the Thiruvottiyur SRO, is Rs 1,002 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of K.G.L. Nagar has changed

The guideline value for K.G.L. Nagar has undergone several revisions since 2002. The register shows that in 2002, the value was Rs 29 per sq.ft, which increased to Rs 33 per sq.ft in 2003. Following this, the value rose significantly to Rs 250 per sq.ft in 2007, and then to Rs 600 per sq.ft in 2012. In 2017, it was further revised to Rs 402 per sq.ft, and in 2023, it reached Rs 1,000 per sq.ft. The most recent revision in 2024 set the value at Rs 1,002 per sq.ft, reflecting a change of +0% from the previous year.

From 2017 to 2023, the value increased by +149%. The value decreased by -33% from 2012 to 2017. The increase from 2007 to 2012 was +140%, while the jump from 2003 to 2007 was a remarkable +658%. The value increased by +14% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by +3355%.

Guideline values in Kadappakkam

Kadappakkam village has 17 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,001 to Rs 1,200 per sq.ft, with a median value of Rs 1,002 per sq.ft. K.G.L. Nagar's current guideline value is equal to this median.

• Kanniyamman Pettai: Rs 1,002 per sq.ft (2024)
• Kamarajpuram: Rs 1,002 per sq.ft (2024)
• Madras Redhills Road: Rs 1,002 per sq.ft (2024)
• Manali New Town (T N H B & C M D A): Rs 1,100 per sq.ft (2024)
• Harijan Colony: Rs 1,001 per sq.ft (2024)
• Muthu Complex: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in K.G.L. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value would be Rs 10,02,000. The stamp duty at 7% would amount to Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total cost for these fees to Rs 90,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers K.G.L. Nagar?

The Sub Registrar Office that covers K.G.L. Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Kadappakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. This helps maintain transparency in the real estate market and ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of K.G.L. Nagar?

The current guideline value of K.G.L. Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly since 2002, starting from Rs 29 per sq.ft and increasing to Rs 1,002 per sq.ft in 2024, reflecting an overall increase of +3355%.

What is the land classification of K.G.L. Nagar?

K.G.L. Nagar is classified as Residential Class I Type - II, which indicates its use for residential purposes.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How are stamp duties calculated in K.G.L. Nagar?

Stamp duties in K.G.L. Nagar are calculated based on the guideline value or the sale price, whichever is higher. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value.