Guideline Value for KGT Nagar

KGT Nagar guideline value

The current guideline value of KGT Nagar, located in Kobarasanallur village under the Kunrathur SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is classified as Mixed Special Type - II.

How the guideline value of KGT Nagar has changed

The guideline value for KGT Nagar has undergone several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 592 per sq.ft. This increased significantly to Rs 1,800 per sq.ft in 2012, followed by a decrease to Rs 1,206 per sq.ft in 2017. The value then rose sharply to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,980 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 reflects a 10% rise. The overall increase from the 2007 revision to the 2024 revision is a substantial 234%, indicating a significant change in the guideline value over the years.

Guideline values in Kobarasanallur

Kobarasanallur village features 28 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,180 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, which matches the current guideline value for KGT Nagar.

• Kesar Nagar: Rs 3,285 per sq.ft (2024)
• MAC Nagar: Rs 1,980 per sq.ft (2024)
• Madha Koil Street: Rs 1,980 per sq.ft (2024)
• Mariamman Koil Street: Rs 1,980 per sq.ft (2024)
• Marshall Nagar: Rs 1,980 per sq.ft (2024)
• Harikanth Amara (Nagar): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in KGT Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these charges to Rs 1,78,200. Duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers KGT Nagar?

KGT Nagar falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Kobarasanallur. It is used to determine the stamp duty and registration fees when a property is bought or sold. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to refer to the latest guideline value to ensure compliance with government regulations. This value impacts the overall cost of the transaction, making it a vital factor in the buying and selling process.

Frequently asked questions

What is the current guideline value of KGT Nagar?

The current guideline value of KGT Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 592 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, with various changes in between.

What is the registration office for KGT Nagar?

The registration office for KGT Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated in KGT Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 at 7%.

What are the other streets in Kobarasanallur?

Other streets in Kobarasanallur include Kesar Nagar, MAC Nagar, Madha Koil Street, Mariamman Koil Street, Marshall Nagar, and Harikanth Amara (Nagar), with varying guideline values.