Guideline Value for KESAVAPURAM

Kesavapuram guideline value

The current guideline value of Kesavapuram, located in Naalur village under the Ponneri SRO, is Rs 400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kesavapuram has changed

Looking at the historical revisions, the guideline value for Kesavapuram was Rs 300 per sq.ft in 2012. It then decreased to Rs 268 per sq.ft in 2017, marking an 11% drop. However, from 2017 to 2023, the value rose significantly by 49%, stabilizing at Rs 400 per sq.ft for both the 2023 and 2024 revisions, indicating no change between these two years. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 33%. The current rate of Rs 400 per sq.ft in 2024 aligns with the median value for other streets in Naalur under the Ponneri SRO, which range from Rs 400 to Rs 600 per sq.ft.

Guideline values in Naalur

In Naalur, there are 23 streets under the Ponneri SRO that have a guideline value for 2024, with the median set at Rs 400 per sq.ft. Kesavapuram's 2024 figure matches this median. The following are the other streets in Naalur along with their respective guideline values:

• Jain Nagar: Rs 500 per sq.ft (2024)
• M G M Anandha Nagar: Rs 400 per sq.ft (2024)
• Indhuja Nagar: Rs 500 per sq.ft (2024)
• Minjur Modern City: Rs 400 per sq.ft (2024)
• M.K.N. Nagar: Rs 500 per sq.ft (2024)
• Green Peace: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Kesavapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total cost to Rs 36,000. 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 Kesavapuram?

The Sub Registrar Office that covers Kesavapuram is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Naalur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is essential for ensuring that the transaction is recorded accurately and legally.

When selling a property, the seller must also be aware of the guideline value, as it affects the overall cost of the transaction. Buyers and sellers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kesavapuram?

The current guideline value of Kesavapuram is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then to Rs 400 per sq.ft in 2023 and 2024. There were no figures available for the years 2002, 2003, and 2007.

What is the land classification for Kesavapuram?

Kesavapuram is classified as Residential Class II Type - I. This classification is important for understanding the types of developments permitted in the area.

How is stamp duty calculated for property in Kesavapuram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000, leading to a stamp duty of Rs 28,000.

Where can I find the Sub Registrar Office for Kesavapuram?

The Sub Registrar Office for Kesavapuram is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles all registration activities for the area.