Guideline Value for K.S.P NAGAR

K.S.P Nagar guideline value

The current guideline value of K.S.P Nagar, located in Pothur village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

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

The guideline value for K.S.P Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 500 per sq.ft. This was followed by a decrease to Rs 335 per sq.ft in 2017. The 2023 revision saw an increase to Rs 500 per sq.ft, and the most recent revision in 2024 has raised it further to Rs 550 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for K.S.P Nagar in the register.

Guideline values in Pothur

Pothur village has a total of 98 streets under the Redhills SRO that have a guideline value for 2024, ranging from Rs 330 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, which aligns with the current value for K.S.P Nagar.

• Lake View Garden: Rs 440 per sq.ft (2024)
• Kirubai Nagar: Rs 550 per sq.ft (2024)
• Lakshmi Nagar: Rs 440 per sq.ft (2024)
• K.C.R . Nagar: Rs 550 per sq.ft (2024)
• Lakshmi Nagar Extension: Rs 550 per sq.ft (2024)
• Kannialal Nagar: Rs 550 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further assistance, you can use the stamp duty and registration fee calculator.

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

K.S.P Nagar falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pothur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When engaging in property transactions, both buyers and sellers should be aware of the guideline value as it impacts the overall cost of the transaction. It is advisable to consult the latest guideline values to ensure compliance with the registration requirements.

Frequently asked questions

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

The current guideline value of K.S.P Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and is now Rs 550 per sq.ft in 2024.

What are the other streets in Pothur with their guideline values?

Other streets in Pothur include Lake View Garden at Rs 440 per sq.ft, Kirubai Nagar at Rs 550 per sq.ft, Lakshmi Nagar at Rs 440 per sq.ft, K.C.R . Nagar at Rs 550 per sq.ft, Lakshmi Nagar Extension at Rs 550 per sq.ft, and Kannialal Nagar at Rs 550 per sq.ft.

What is the stamp duty rate in K.S.P Nagar?

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

Where can I find the Sub Registrar Office for K.S.P Nagar?

The Sub Registrar Office covering K.S.P Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.