Guideline Value for KAYATHIRI NAGAR

Kayathiri Nagar guideline value

The current guideline value of Kayathiri Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this street is Commercial Class I Type - III.

How the guideline value of Kayathiri Nagar has changed

The guideline value for Kayathiri Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 900 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure dropped to Rs 1,675 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 2,500 per sq.ft, and the latest revision in 2024 set it at Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 206%. The revisions for the years 2002 and 2003 have no figures available for this street in the register.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Kayathiri Nagar's 2024 figure above this median.

• Kasuturi Gandhi Street: Rs 2,200 per sq.ft (2024)
• Kousalya Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Kousalya Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Kousalya Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Krishnaveni Ammal Road: Rs 2,200 per sq.ft (2024)
• Krishnaveni Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kayathiri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. 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 more details.

Which Sub Registrar Office covers Kayathiri Nagar?

The Sub Registrar Office that covers Kayathiri Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two 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 Kayathiri Nagar?

The current guideline value of Kayathiri Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What are the guideline values for other streets in Medavakkam?

Other streets in Medavakkam have a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft, with a median value of Rs 2,200 per sq.ft.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a total of Rs 2,47,500 in duties.

Where can I find the Sub Registrar Office for Kayathiri Nagar?

The Sub Registrar Office for Kayathiri Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.