Guideline Value for KIRUBAI NAGAR

Kirubai Nagar guideline value

The current guideline value of Kirubai Nagar, located in Pothur village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Kirubai Nagar has changed

The guideline value for Kirubai Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft, which decreased to Rs 335 per sq.ft in 2017. However, this figure saw a significant increase in the following years, rising to Rs 500 per sq.ft in 2023 and then to Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Pothur

Pothur village features a total of 98 streets under the Redhills SRO, with 2024 guideline values ranging from Rs 330 to Rs 2,000 per sq.ft. The guideline value for Kirubai Nagar aligns with the median value of Rs 550 per sq.ft for this area.

• K.C.R . Nagar: Rs 550 per sq.ft (2024)
• K.S.P Nagar: Rs 550 per sq.ft (2024)
• Kannialal Nagar: Rs 550 per sq.ft (2024)
• Lake View Garden: Rs 440 per sq.ft (2024)
• Lakshmi Nagar: Rs 440 per sq.ft (2024)
• Lakshmi Nagar Extension: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Kirubai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, resulting in a total of Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kirubai Nagar?

The Sub Registrar Office that covers Kirubai Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Pothur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value will be used to calculate the applicable duties and fees, ensuring that the transaction is in compliance with local regulations. It is crucial for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kirubai Nagar?

The current guideline value of Kirubai Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 in 2023, and finally to Rs 550 in 2024.

What is the land classification of Kirubai Nagar?

Kirubai Nagar is classified as Residential Class I Type - I.

What is the registration office for Kirubai Nagar?

The registration office for Kirubai Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated in Kirubai Nagar?

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 at the current rate, the stamp duty would amount to Rs 38,500.