Guideline Value for K.G.S. NAGAR

K.G.S. Nagar guideline value

The current guideline value of K.G.S. Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Athipattu village and falls under the Thiruvottiyur SRO. The land classification for this street is Residential Class I Type - I.

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

The guideline value for K.G.S. Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 201 per sq.ft, which increased to Rs 300 per sq.ft in 2023. With the latest 2024 revision, the value has risen to Rs 330 per sq.ft, marking a 10% increase from the previous year. The overall change from 2017 to 2024 is an increase of 64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The 2023 to 2024 revision reflects a significant increase of 10%, while the change from 2017 to 2023 was a substantial 49%.

Guideline values in Athipattu

Athipattu village has 108 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 462 per sq.ft. The median value for these streets is Rs 330 per sq.ft, which is equal to the current guideline value for K.G.S. Nagar.

• Kaveri Nagar: Rs 330 per sq.ft (2024)
• Karunya Nagar: Rs 330 per sq.ft (2024)
• Karumariamman Nagar: Rs 330 per sq.ft (2024)
• Krishna Sharma Nagar: Rs 330 per sq.ft (2024)
• Karpagam Ammal Nagar: Rs 330 per sq.ft (2024)
• Karaiyan Medu: Rs 330 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total fees together to Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

The K.G.S. 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Athipattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees are calculated accurately based on this value.

When buying or selling property, the guideline value is used to assess the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction, based on the established guideline value.

Frequently asked questions

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

The current guideline value of K.G.S. Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, and then to Rs 330 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What are the stamp duty rates for property in K.G.S. Nagar?

The stamp duty for property in K.G.S. Nagar is charged at 7% of the guideline value or sale price, whichever is higher. For example, on a 1,000 sq.ft plot, the stamp duty would be Rs 23,100.

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. You can visit this office for any registration-related queries.

What is the land classification for K.G.S. Nagar?

The land classification for K.G.S. Nagar is Residential Class I Type - I, indicating its suitability for residential purposes.