Guideline Value for K.J. Nagar

K.J. Nagar guideline value

The current guideline value of K.J. Nagar, located in Gooduvancheri village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

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

Looking at the historical revisions, the guideline value for K.J. Nagar was Rs 804 per sq.ft in 2017. It remained unchanged at Rs 1,200 per sq.ft during the 2023 revision and continues at the same rate for the 2024 revision, indicating a 49% increase from the 2017 figure to the current rate. The register has no figures for the years 2002, 2003, 2007, and 2012.

From 2017 to 2023, there was a significant increase of 49%, and overall, the change from 2017 to 2024 also reflects a 49% rise, maintaining the guideline value at Rs 1,200 per sq.ft since 2023.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. K.J. Nagar's current guideline value is below this median.

• KJ Nagar Extn: Rs 1,000 per sq.ft (2024)
• K.K. Nagar: Rs 2,001 per sq.ft (2024)
• Krishna Nagar: Rs 1,200 per sq.ft (2024)
• Kanniyappa Nagar: Rs 2,001 per sq.ft (2024)
• Kumaran Nagar: Rs 1,500 per sq.ft (2024)
• Kannagi Street: Rs 2,001 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 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% is Rs 84,000, and the registration fee at 2% is Rs 24,000, bringing the total cost for these fees to Rs 1,08,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers K.J. Nagar?

K.J. Nagar falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Gooduvancheri. It is used to determine the stamp duty and registration fees, which are mandatory costs that buyers and sellers must consider during a property transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the official rates set by the government. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

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

The current guideline value of K.J. Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft since 2023, showing a 49% increase from the 2017 figure of Rs 804 per sq.ft.

What is the land classification of K.J. Nagar?

K.J. Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri - 603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in K.J. Nagar?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%. For example, a 1,000 sq.ft plot at Rs 1,200 per sq.ft incurs a total fee of Rs 1,08,000.