Guideline Value for KABALESWARAN NAGAR

Kabaleswaran Nagar guideline value

The current guideline value of Kabaleswaran Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This locality is situated in Zaminpallavaram village, under the Pallavaram SRO, with a land classification of Residential Class I Type - II.

How the guideline value of Kabaleswaran Nagar has changed

Over the years, the guideline value of Kabaleswaran Nagar has seen several revisions. The 2007 revision set the value at Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a rise of 275%. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The 2023 revision then raised the value to Rs 3,000 per sq.ft, and the latest revision in 2024 has increased it further to Rs 3,300 per sq.ft, a rise of 10% from the previous year.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 313%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with a 2024 guideline value range from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value for Kabaleswaran Nagar.

• Kabilar Street: Rs 3,300 per sq.ft (2024)
• Juleka Street: Rs 2,160 per sq.ft (2024)
• Joy Nagar: Rs 3,520 per sq.ft (2024)
• Kakkilanchavadi: Rs 2,750 per sq.ft (2024)
• Kalaignar Street: Rs 2,750 per sq.ft (2024)
• Kalaigner Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Kabaleswaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total charges Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kabaleswaran Nagar?

Kabaleswaran Nagar falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of properties in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Kabaleswaran Nagar?

The current guideline value of Kabaleswaran Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 313% over the years.

What is the land classification of Kabaleswaran Nagar?

Kabaleswaran Nagar is classified as Residential Class I Type - II, which indicates its suitability for residential development.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kabaleswaran Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current rate, the total stamp duty would be Rs 2,31,000.