Guideline Value for K.J.NAGAR PHASE-II

K.J.Nagar Phase-II guideline value

The current guideline value of K.J.Nagar Phase-II is Rs 111 per sq.ft, effective from 1 July 2024. This area is located in Karikili village under the Salavakkam Sub Registrar Office (SRO), classified as Residential Special Type - V.

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

The guideline value for K.J.Nagar Phase-II has seen several revisions over the years. In 2012, the value was set at Rs 110 per sq.ft, which then decreased to Rs 74 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 111 per sq.ft, where it remained unchanged in the 2024 revision.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 1%.

Guideline values in Karikili

In Karikili village, there are 12 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 150 per sq.ft. The median value for these streets is Rs 116 per sq.ft, making the K.J.Nagar Phase-II guideline value below that median.

• K.J.Nagar Phase-III: Rs 120 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-II

For a 1,000 sq.ft plot at the current rate of Rs 111 per sq.ft, the guideline value would be Rs 1,11,000. The stamp duty at 7% would amount to Rs 7,770, and the registration fee at 2% would be Rs 2,220, totaling Rs 9,990. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations based on your property transaction.

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

The K.J.Nagar Phase-II area is covered by the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Karikili, as it is used to determine the stamp duty and registration fees when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of K.J.Nagar Phase-II is Rs 111 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 111 per sq.ft since 2023 and has increased from Rs 74 per sq.ft in 2017. The value was Rs 110 per sq.ft in 2012.

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

K.J.Nagar Phase-II is classified as Residential Special Type - V, which indicates its designated use for residential purposes.

Where can I find more information about the Salavakkam SRO?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. More details can be found through the provided link to find your SRO.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,11,000, the stamp duty would be Rs 7,770 at 7%.