Guideline Value for KGP Nagar

KGP Nagar guideline value

The current guideline value of KGP Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Thiruvallur village and falls under the Tiruvallur Joint 1 SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of KGP Nagar has changed

The guideline value for KGP Nagar has undergone several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 500% rise. However, the value then decreased to Rs 804 per sq.ft in 2017, reflecting a decline of 33%. The value saw substantial growth again, reaching Rs 1,200 per sq.ft in 2023, and then further increasing to Rs 1,320 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a remarkable increase of 560%. It is important to note that the register has no figures for KGP Nagar for the years 2002 and 2003.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO that have a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing KGP Nagar's 2024 figure above this median.

• K.K. Nagar: Rs 1,100 per sq.ft (2024)
• Kaviyarasu Street: Rs 1,100 per sq.ft (2024)
• Kattabomman Streetsouth: Rs 1,650 per sq.ft (2024)
• Kattabomman Streetnorth: Rs 1,650 per sq.ft (2024)
• Kommu Street: Rs 1,100 per sq.ft (2024)
• Kondammapuram Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in KGP Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for these fees would be Rs 1,18,800. It is important to note that 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 further assistance.

Which Sub Registrar Office covers KGP Nagar?

KGP Nagar is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Thiruvallur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of KGP Nagar?

The current guideline value of KGP Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What is the median guideline value in Thiruvallur?

The median guideline value for the 172 streets in Thiruvallur under the Tiruvallur Joint 1 SRO is Rs 1,100 per sq.ft.

What are the stamp duty and registration fees for KGP Nagar?

The stamp duty for a property in KGP Nagar is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,18,800.

Which office handles property registration in KGP Nagar?

The Tiruvallur Joint 1 Sub Registrar Office handles property registration for KGP Nagar, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001.