Guideline Value for K.J.NAGAR PHASE-III

K.J.Nagar Phase-III guideline value

The current guideline value for K.J.Nagar Phase-III is Rs 120 per sq.ft. This area is located in Karikili village under the Salavakkam SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of K.J.Nagar Phase-III has changed

The guideline value for K.J.Nagar Phase-III has seen several revisions over the years. The figures from the revisions are as follows: in 2012, the value was Rs 120 per sq.ft; in 2017, it decreased to Rs 80 per sq.ft; in 2023, it returned to Rs 120 per sq.ft; and as of the 2024 revision, it remains at Rs 120 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was an increase of 50%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 120 per sq.ft.

Guideline values in Karikili

In Karikili, there are 12 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 150 per sq.ft, with a median of Rs 116 per sq.ft. K.J.Nagar Phase-III's 2024 figure is above this median.

• K.J.Nagar Phase-II: Rs 111 per sq.ft (2024)
• K.J.Nagar: Rs 111 per sq.ft (2024)
• Kuberan Nagar: Rs 120 per sq.ft (2024)
• Layout (No Name): Rs 120 per sq.ft (2024)
• Madura Nagar: Rs 111 per sq.ft (2024)
• Nemichand Park: Rs 100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 120 per sq.ft, the total guideline value would be Rs 1,20,000. The stamp duty at 7% would amount to Rs 8,400, and the registration fee at 2% would be Rs 2,400, making the total fees together Rs 10,800. 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 precise calculations based on your property details.

Which Sub Registrar Office covers K.J.Nagar Phase-III?

The Sub Registrar Office that covers K.J.Nagar Phase-III is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Karikili. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, buyers and sellers must ensure that the sale price is equal to or higher than the guideline value. This ensures that the appropriate taxes are calculated based on the higher of the two values.

Frequently asked questions

What is the current guideline value for K.J.Nagar Phase-III?

The current guideline value for K.J.Nagar Phase-III is Rs 120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 120 per sq.ft since 2012, with a decrease to Rs 80 per sq.ft in 2017, before returning to Rs 120 per sq.ft in 2023 and 2024.

What is the land classification for K.J.Nagar Phase-III?

The land classification for K.J.Nagar Phase-III is Residential Special Type - I.

What are the stamp duty and registration fees for a property in K.J.Nagar Phase-III?

For a property valued at Rs 1,20,000, the stamp duty would be Rs 8,400 and the registration fee would be Rs 2,400, totaling Rs 10,800.

Which office handles property registrations for K.J.Nagar Phase-III?

The Salavakkam Sub Registrar Office handles property registrations for K.J.Nagar Phase-III, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.