Guideline Value for Kabaleeswaran Nagar

Kabaleeswaran Nagar guideline value

The current guideline value of Kabaleeswaran Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village and falls under the Padappai SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Kabaleeswaran Nagar has changed

The guideline value for Kabaleeswaran Nagar has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 1,650 per sq.ft in the 2024 revision, marking a change of +10%.

As of the 2024 revision, the current guideline value stands at Rs 1,650 per sq.ft. This is a notable increase from the previous year's value of Rs 1,500 per sq.ft. The consistent updates reflect the evolving nature of property values in the area.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is the same as the guideline value for Kabaleeswaran Nagar.

• Kabhi Nagar: Rs 1,650 per sq.ft (2024)
• Joshia Nagar: Rs 1,320 per sq.ft (2024)
• Kalaam Nagar: Rs 990 per sq.ft (2024)
• Kalpataru Guru Ganesh Avenue Phase-I: Rs 2,480 per sq.ft (2024)
• Jashmine Nagar: Rs 1,100 per sq.ft (2024)
• Janakpurai Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Kabaleeswaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the 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 more details.

Which Sub Registrar Office covers Kabaleeswaran Nagar?

Kabaleeswaran Nagar is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Varadarajapuram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per the government regulations.

When buying or selling property, the guideline value helps in determining the legal and financial obligations associated with the transaction. It is essential for both 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 Kabaleeswaran Nagar?

The current guideline value of Kabaleeswaran Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, reflecting a change of +10%. There are no figures for the years 2002, 2003, 2007, 2012, and 2017 in the register.

What is the land classification for Kabaleeswaran Nagar?

Kabaleeswaran Nagar is classified as Residential Special Type - II. This classification is important for understanding the type of development permitted in the area.

Where can I find the registration office for Kabaleeswaran Nagar?

The registration office for Kabaleeswaran Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai.

How is stamp duty calculated for properties in Kabaleeswaran Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500.