Guideline Value for K.J. Nagar

K.J. Nagar guideline value

The current guideline value of K.J. Nagar, located in Vilangadupakkam village, is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Redhills Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of K.J. Nagar has changed

The guideline value for K.J. Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 26 per sq.ft, which rose dramatically to Rs 200 per sq.ft by 2007, marking an increase of 669%. The value then increased to Rs 400 per sq.ft in 2012, reflecting a 100% rise. However, it decreased to Rs 268 per sq.ft in 2017, a decline of 33%. The value then increased to Rs 400 per sq.ft in 2023, followed by a further increase to Rs 440 per sq.ft in 2024, a rise of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 1592%. The revisions for the years 2002 do not have a figure listed for this street in the register.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft, with the median value being Rs 440 per sq.ft. K.J. Nagar's 2024 figure aligns with this median.

• K.C.P. Nagar: Rs 440 per sq.ft (2024)
• Kumaran Nagar: Rs 550 per sq.ft (2024)
• Kanniamman Nagar Annex Part-I: Rs 770 per sq.ft (2024)
• Kanagammal Nagar: Rs 550 per sq.ft (2024)
• Kanagambal Nagar: Rs 550 per sq.ft (2024)
• Kamarajar Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in K.J. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers K.J. Nagar?

K.J. Nagar is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Vilangadupakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are compliant with legal requirements.

Additionally, the guideline value helps in maintaining transparency in property transactions, as it provides a standardized value that reflects the prevailing rates in the area. Buyers and sellers should be aware of the guideline value to ensure fair dealings during property transactions.

Frequently asked questions

What is the current guideline value of K.J. Nagar?

The current guideline value of K.J. Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 26 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 1592% over this period.

What is the stamp duty rate for properties in K.J. Nagar?

The stamp duty rate for properties in K.J. Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property, which affects the calculation of stamp duty and registration fees during property transactions in Vilangadupakkam.