Guideline Value for K.G.L. NAGAR

K.G.L. Nagar guideline value

The current guideline value of K.G.L. Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024. This area is located in Sadayankuppam village under the Thiruvottiyur SRO, classified as Residential Special Type - III.

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

The guideline value for K.G.L. Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 35 per sq.ft, which increased to Rs 50 per sq.ft in 2007. This was followed by a significant rise to Rs 600 per sq.ft in 2012. However, in 2017, the value dropped to Rs 402 per sq.ft. The guideline value then rose to Rs 1,000 per sq.ft in 2023 and has now reached Rs 1,002 per sq.ft in the 2024 revision. The register has no figure for this street in 2002.

Between the revisions, the most notable changes include a 1,100% increase from 2007 to 2012, and a 149% increase from 2017 to 2023. Overall, from 2003 to 2024, the guideline value has increased by 2,763%.

Guideline values in Sadayankuppam

In Sadayankuppam, there are 20 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,200 per sq.ft, with the median being Rs 1,002 per sq.ft. K.G.L. Nagar's 2024 figure is equal to this median.

• Jeinfer Nagar: Rs 1,100 per sq.ft (2024)
• Mallika Nagar: Rs 1,000 per sq.ft (2024)
• Manali New Town (T N H B & C M D A): Rs 1,100 per sq.ft (2024)
• M.R.B. Nagar: Rs 1,002 per sq.ft (2024)
• Gandhi Nagar: Rs 1,000 per sq.ft (2024)
• Nehru Nagar: 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 to Rs 90,180. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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

The K.G.L. Nagar area is covered by the Thiruvottiyur Sub Registrar Office located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration process when buying or selling property in Sadayankuppam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid to the government.

When a property is sold, the higher value between the sale price and the guideline value is taken into account for calculating these fees. This ensures that the transaction is recorded accurately and complies with the legal requirements set by the Registration Department.

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 much has the guideline value changed over the years?

The guideline value has changed significantly, with an increase of 2,763% from Rs 35 per sq.ft in 2003 to Rs 1,002 per sq.ft in 2024.

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

K.G.L. Nagar is classified as Residential Special Type - III, indicating its suitability for residential purposes.

Where can I find the Thiruvottiyur Sub Registrar Office?

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

How are stamp duty and registration fees calculated in K.G.L. Nagar?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would have total fees of Rs 90,180.