Guideline Value for Kabhi Nagar

Kabhi Nagar guideline value

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

How the guideline value of Kabhi Nagar has changed

The guideline value for Kabhi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, before reaching the current rate of Rs 1,650 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2017 to 2023, there was a notable increase of 49%, and from 2023 to 2024, the value rose by 10%. Overall, comparing the 2012 revision to the current 2024 figure, there has been an increase of 10%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, which aligns with the current guideline value of Kabhi Nagar.

• Kabaleeswaran Nagar: Rs 1,650 per sq.ft (2024)
• Kalaam Nagar: Rs 990 per sq.ft (2024)
• Joshia Nagar: Rs 1,320 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 Kabhi 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 Kabhi Nagar?

Kabhi Nagar falls under the jurisdiction of the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Varadarajapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that both the buyer and seller adhere to the legal requirements during the transaction.

Frequently asked questions

What is the current guideline value of Kabhi Nagar?

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

How has the Kabhi Nagar guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Kabhi Nagar?

The land classification for Kabhi Nagar is Residential Special Type - II.

What is the registration office for Kabhi Nagar?

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

How is stamp duty calculated for property in Kabhi 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 16,50,000, the stamp duty at 7% would be Rs 1,15,500.