Guideline Value for K.G.L.PRABU NAGAR

K.G.L.Prabu Nagar guideline value

The current guideline value of K.G.L.Prabu Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Minjur village under the Ponneri Sub Registrar Office (SRO) and falls under the Residential Class II Type - I land classification.

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

The guideline value of K.G.L.Prabu Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in the 2023 revision. The latest revision in 2024 raised the value further to Rs 550 per sq.ft, marking a significant increase of 64% from the 2017 figure.

Between the 2023 and 2024 revisions, the guideline value increased by 10%. The changes from 2017 to 2023 represented a 49% increase. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,320 per sq.ft. The median value for these streets is Rs 550 per sq.ft, which is equal to the guideline value of K.G.L.Prabu Nagar.

• K.G.L.Prabu Nagar (I.II,III): Rs 550 per sq.ft (2024)
• K.G.L. Nagar: Rs 440 per sq.ft (2024)
• Kaveri Nagar: Rs 550 per sq.ft (2024)
• Kattur Road: Rs 440 per sq.ft (2024)
• K.R.Balaji Nagar: Rs 550 per sq.ft (2024)
• K.R.K Nagar: Rs 550 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total charges to Rs 49,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

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

The K.G.L.Prabu Nagar area is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Minjur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value is referenced to determine the minimum value for registration purposes. This means that even if the sale price is lower than the guideline value, the higher guideline value will be used to calculate the applicable fees.

Frequently asked questions

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

The current guideline value of K.G.L.Prabu Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, marking an overall increase of 64%. There were no figures available for the years 2002, 2003, 2007, and 2012.

What are the stamp duty and registration fees for property in K.G.L.Prabu Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 5,50,000. The stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

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

K.G.L.Prabu Nagar is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It ensures that the government receives the appropriate revenue based on the minimum value of the property being registered.