Guideline Value for KAILASH NAGAR

Kailash Nagar guideline value

The current guideline value of Kailash Nagar is Rs 2,725 per sq.ft, effective from 1 July 2024. This area is located in Perumbakkam village, under the Selaiyur Sub Registrar Office (SRO). The land classification for this street is Residential Special Type - I.

How the guideline value of Kailash Nagar has changed

The guideline value for Kailash Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the current 2024 revision has further increased it to Rs 2,725 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The value then increased by 9% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value is Rs 2,725 per sq.ft, which is the same as the current value for Kailash Nagar.

• Kakkanji Street: Rs 3,300 per sq.ft (2024)
• Jothi Durai Street: Rs 2,725 per sq.ft (2024)
• Jey Yes Road: Rs 2,725 per sq.ft (2024)
• Kamarajar Salai: Rs 1,600 per sq.ft (2024)
• Kamarajar Street: Rs 3,300 per sq.ft (2024)
• Jeeva Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kailash Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,725 per sq.ft, the total guideline value would be Rs 27,25,000. The stamp duty at 7% would amount to Rs 1,90,750, and the registration fee at 2% would be Rs 54,500. Together, the total cost for stamp duty and registration fee would be Rs 2,45,250. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kailash Nagar?

The Kailash Nagar area is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perumbakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly impacts the stamp duty and registration fees applicable during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable taxes. It is essential for both parties to be aware of the guideline value to ensure compliance with legal requirements and to avoid any disputes during the registration process.

Frequently asked questions

What is the current guideline value of Kailash Nagar?

The current guideline value of Kailash Nagar is Rs 2,725 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,725 per sq.ft in 2024.

What is the land classification for Kailash Nagar?

The land classification for Kailash Nagar is Residential Special Type - I.

What are the stamp duty and registration fees for properties in Kailash Nagar?

For a property valued at Rs 27,25,000, the stamp duty would be Rs 1,90,750 and the registration fee would be Rs 54,500, totaling Rs 2,45,250.

Which office handles registrations for Kailash Nagar?

The Selaiyur Sub Registrar Office handles registrations for Kailash Nagar, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.