Guideline Value for KGK Nagar

KGK Nagar guideline value

The current guideline value of KGK Nagar, located in Kilkattalai village under the Pallavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of KGK Nagar has changed

The guideline value for KGK Nagar has seen several revisions over the years. The earliest recorded value in the register is from 2007, which was Rs 754 per sq.ft. This value increased significantly to Rs 2,000 per sq.ft in 2012, then saw a decrease to Rs 1,340 per sq.ft in 2017. The value rose again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision.

In terms of percentage changes, the guideline value increased by 165% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has risen by 192% from 2007 to 2024.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, indicating that KGK Nagar's current guideline value is below this median.

• Kirupanandhavariyar Avenue: Rs 2,200 per sq.ft (2024)
• Kasthuribai Street: Rs 2,530 per sq.ft (2024)
• Kasi Visalatchi Puram: Rs 2,530 per sq.ft (2024)
• Kasi Visalakshipuram: Rs 2,530 per sq.ft (2024)
• Krishna Colony: Rs 1,080 per sq.ft (2024)
• Krishna Nagar: Rs 3,080 per sq.ft (2024)

Stamp duty and registration fee for property in KGK Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers KGK Nagar?

The Sub Registrar Office that covers KGK Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Kilkattalai

The guideline value is a crucial factor during the registration of property transactions in Kilkattalai. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the guideline value helps ensure that the transaction is registered at a fair value, which is essential for both the buyer and the seller. This process helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of KGK Nagar?

The current guideline value of KGK Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 754 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, with notable changes in between.

What is the land classification for KGK Nagar?

KGK Nagar is classified as Residential Class I Type - III, indicating its designation for residential purposes.

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

The Sub Registrar Office for KGK Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in KGK Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.