Guideline Value for K.G.Nair Street

K.G.Nair Street guideline value

The current guideline value of K.G.Nair Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of K.G.Nair Street has changed

The guideline value for K.G.Nair Street has undergone several revisions over the years. The earliest recorded value was Rs 1,350 per sq.ft in 2007. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a growth of 233%. However, it then decreased to Rs 3,015 per sq.ft in 2017, which was a decline of 33%. The value rose again to Rs 4,500 per sq.ft in 2023, before reaching the current rate of Rs 4,950 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no recorded figures for K.G.Nair Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, making K.G.Nair Street's 2024 figure above that median.

• Kesavalu Street(Nehru Nagar): Rs 4,400 per sq.ft (2024)
• K.K.Nedunsalai: Rs 6,050 per sq.ft (2024)
• Kavery Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - Pillayar Koil Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - M.G.R. Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in K.G.Nair Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, while the registration fee at 2% would be Rs 99,000. Together, the total fees would be Rs 4,45,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.G.Nair Street?

K.G.Nair Street falls under the jurisdiction of 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 Saligramam

The guideline value is a crucial factor in property transactions in Saligramam, as it determines the minimum price at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official assessment of the property’s worth.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures transparency and standardization in property transactions within the area.

Frequently asked questions

What is the current guideline value of K.G.Nair Street?

The current guideline value of K.G.Nair Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 1,350 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 267%.

What are the stamp duty and registration fees for properties in K.G.Nair Street?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which Sub Registrar Office covers K.G.Nair Street?

K.G.Nair Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

Where can I find more information about guideline values in Saligramam?

You can find more information about guideline values in Saligramam by visiting the relevant sections on the Tamil Nadu Registration Department's website.